LONDON: The euro extended gains, hitting a one-week high against the dollar on Wednesday after the EU Commission announced that the Troika of the EU, European Central Bank and IMF will return to Greece, increasing optimism that EU leaders were taking action to tackle the Greek debt crisis.
The euro rose as high as $1.36909, according to EBS data, surpassing Tuesday's high of $1.3668, with traders citing stop loss orders around $1.3720 just beyond technical resistance at $1.3711, the 100-week moving average.
"The market seems to have a belief that Europe is facing up to the problems and it's risk back on," a London-based trader said.
