The euro was volatile on Wednesday, easing from a fresh four-week high against the dollar, with some doubts about a Greek bailout package and a key chart resistance level capping gains.
The euro EUR= fell sharply to $1.4390 after German newspaper Frankfurter Allgemeine Zeitung said it is now considered certain that the IMF will not pay its share of a fifth tranche of aid to Greece at the end of June. It did not cite any sources. [ID:nB4E7G900F]
But the common currency recouped most of those losses to trade at $1.4415 EUR=, up 0.1 percent for the day. It rose to a four-week high of $1.4448 on trading platform EBS in the European session, with some traders citing option barriers at $1.4450.
Near-term resistance looms at $1.4454, a 50 percent retracement of a slide from its early May peak above $1.4940 to a two-month trough of $1.3968 hit last week.
The euro EUR= fell sharply to $1.4390 after German newspaper Frankfurter Allgemeine Zeitung said it is now considered certain that the IMF will not pay its share of a fifth tranche of aid to Greece at the end of June. It did not cite any sources. [ID:nB4E7G900F]
But the common currency recouped most of those losses to trade at $1.4415 EUR=, up 0.1 percent for the day. It rose to a four-week high of $1.4448 on trading platform EBS in the European session, with some traders citing option barriers at $1.4450.
Near-term resistance looms at $1.4454, a 50 percent retracement of a slide from its early May peak above $1.4940 to a two-month trough of $1.3968 hit last week.
