Summary The euro jumped in late trade Wednesday as Greece-EU talks show signs of progress.
NEW YORK (AFP) - The euro jumped in late trade Wednesday amid reports of some progress in Greece s talks with the Eurogroup finance ministers over restructuring its bailout financing.
The euro had traded down to $1.1280 during the day amid worries that the two sides remained far apart.
But the single currency jumped to around $1.1350 as reports near 2200 GMT surfaced of a narrowing of differences as the Brussels meeting wound up.
Greece entered the crunch talks demanding a bridging loan to cover its shortfalls while it finalizes a new, less austere economic plan with creditors, while the EU insisted on keeping Athens more tightly bound with an extension of the current program.
The initial reports from the meeting said the two sides were leaning to an extension of the existing bailout.
That would still give Athens room to restructure its payments without first defaulting on its massive debts, and ease fears that the country could end up leaving the eurozone entirely.
But if austerity conditions remain in place, it could anger supporters of the new Greek government negotiating the deal.
