US$ strengthens; euro buffeted by Greek events

London

THE US dollar strengthened on Tuesday on the back of broadly higher US Treasury yields while the euro was buffeted by official comments and media reports on the progress of discussions over a new debt deal for Greece.

The euro sank below US$1.13 in morning trade in Europe but it recovered almost half a cent around midday London time after a report said that European officials would make a compromise proposal to give Athens another six months to negotiate.