Euro supported as Greece-Germany talks continue
Euro edged higher against the dollar as talks between German Chancellor and Greek PM continued.
NEW YORK (AFP) - The euro edged higher against the dollar Monday as talks between German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras went late with no sign of fireworks.
The euro pushed to $1.0945 in late trade, up more than one cent from late Friday, and more than one yen to 131.02 yen, as Tsipras told reporters in an update during the talks that the two sides have to play down recriminations and name-calling.
"Neither are the Greeks lazy louts nor are the Germans to blame for Greece s ills -- we have to work hard to overcome these stereotypes," he said.
Merkel agreed that Europe must "surmount these types of stereotypes" about good and bad eurozone members to ensure the future of the currency.
"We both have a vested interest in building cooperation based on trust," she said.
The comments came at a break in talks that saw Tspiras making his first visit to the German capital since taking office in January.
Greece s push for a new, less-austere bailout program and the hardline pushback from Berlin and its allies have raised worries that Athens will default on its debt and possibly split with the eurozone, with unclear financial consequences for the region.
Neal Gilbert of Forex.com said the lack of fireworks helped the common currency.
Merkel and Tsipras appeared "on much more conciliatory ground than the finance ministers of each nation, who have been trading jabs through the press over the last few weeks," he said in a research note.
"Since no major hang-ups were detected, the euro had a little relief rally which has advanced the EUR/USD to a very intriguing level which may help determine the future course of the pair."
