The euro touched a one-month high versus the dollar on prospects European Union officials will reiterate their intention to prepare a new aid package for Greece, easing concern over the region's debt crisis.
The single currency also gained versus the Swiss franc before a report that may show producer-price inflation in the trading bloc held near a 2-1/2 year high in April, backing the case for the European Central Bank to increase borrowing costs. The greenback rebounded from a one-month low versus the yen while the Canadian dollar declined against all 16 major peers on speculation that signs of stalling growth in the U.S. will damp demand for the higher-yielding currency.
"The turning point was Greece, and we can suggest Greece is out of the way for the short term," said Kurt Magnus, executive director of currency sales at Nomura Holdings Inc. in Sydney. "There'll be fresh impetus to buy euro this week."
The euro climbed to $1.4658, the strongest since May 5, before reversing gains to $1.4625 as of 9:10 a.m. in London from $1.4635 in New York on June 3. The 17-nation currency was at 117.30 yen from 117.48. The dollar bought 80.19 yen from 80.34 last week, when it dropped to 80.05, the weakest since May 5.
