The euro advanced against other major currencies in the Asian session on Monday ahead of the Eurozone finance ministers meeting, which will discuss details of Greek debt buyback program.
Euro zone finance ministers will gather in Brussels today to furnish details of the buyback of Greek bonds held by investors at a discounted rate. The buyback, which will be financed with 10 billion euros from the rescue package, has to be concluded by December 13 for Greece to secure 30 billion euros of agreed bailout money.
In an interview with Bild am Sonntag newspaper, German Chancellor Angela Merkel signaled that European Union shall consider Greek debt write-off after the country stands with its own revenue instead of relying on new debt.
The euro added 0.07 percent against the Swiss franc and reached 1.2064, its strongest level since November 12. This may be compared to Friday's close of 1.2055. If the euro gains further, it may break 1.21 level.
Against the pound, the euro that closed last week's New York session at 0.8119 advanced to 0.8133. The next resistance level for the euro-pound pair is likely seen at 0.82.
An index measuring house prices in the United Kingdom was down 0.1 percent on month in November, property tracking website Hometrack said.
That's unchanged from the October reading and down for the fifth consecutive month.
The euro spiked up to near a 6-week high of 1.3048 against the greenback, up from last week's closing value of 1.3005. On the upside, the euro may break 1.31 level.
The euro that rebounded from an early low of 107.02 against the yen edged up and the pair is worth 107.46. The euro may break 108.00 level, if it rises further. The pair ended Friday's trading at 107.24.
Capital expenditures in Japan were up 2.2 percent on year in the third quarter of 2012, the Ministry of Finance said - rising for the fourth straight quarter.
But the headline figure was well shy of forecasts for an increase of 4.4 percent and down sharply from 7.7 percent in the second quarter.
Against the Australian and NZ dollars, the euro approached multi-week highs of 1.2535 and 1.5935, respectively. The next upside target level for the euro is likely seen at 1.26 against the aussie and 1.60 against the kiwi.
Retail sales in Australia were unchanged on month in October, the Australian Bureau of Statistics said today, standing at A$21.563 billion.
That missed forecasts for an increase of 0.4 percent on month following the 0.5 percent gain in September and the 0.3 percent rise in August.
The European single currency climbed to 1.2953 against the loonie with 1.30 likely seen as the next upside target level. The pair ended last week's trading at 1.2924.
Looking ahead, Swiss retail sales for October and manufacturing PMIs from major European economies for November are due in the upcoming European session.
From the U.S., ISM manufacturing index for November and construction spending for October are due in the New York session.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.