Summary Greece is facing a July 20 deadline for a debt repayment of 3.5 billion euros
NEW YORK (AFP) - The dollar rose against other major currencies except the yen on Tuesday, where it was unchanged, as debt-riddled Greece prepared bailout proposals to creditors ahead of a European Union summit.
Investors sought safe haven in the dollar and the yen amid mounting uncertainties about Greece s bid to avert an EU debt default that could send it crashing out of the eurozone.
The euro, meanwhile, pared losses to trade at $1.1007 around 2100 GMT, down from $1.1057 at the same time Monday. The 19-nation currency earlier had fallen to a five-week low of $1.0916.
Two days after a Greek referendum overwhelmingly rejected reforms-for-cash bailout proposals from creditors, an emergency meeting of eurozone finance ministers and a summit of EU leaders ended Tuesday without a concrete plan for Greece.
EU president Donald Tusk said that Greece had until Thursday to submit a reform plan for a third bailout package, and that EU leaders would hold a summit on the crisis on Sunday.
Tusk warned: "Inability to find an agreement may lead to bankruptcy of Greece and insolvency of its banking system."
Greece is facing a July 20 deadline for a debt repayment of 3.5 billion euros to the European Central Bank.
"The outlook for the euro doesn t look good. But major falls for the euro could be stemmed by the ECB s can-do attitude when it comes to tackling major risks that threaten the bloc," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
2100 GMT Tuesday Monday
EUR/USD 1.1007 1.1057
EUR/JPY 134.89 135.50
EUR/CHF 1.0419 1.0424
EUR/GBP 0.7119 0.7085
USD/JPY 122.55 122.55
USD/CHF 0.9465 0.9428
GBP/USD 1.5463 1.5607
