The embattled monetary unit climbed amid a brighter outlook for leaders' abilities to confront the sovereign debt crisis. An air of confidence spread as officials committed to more aggressively tackle some of the daunting issues foisted upon the euro zone by the voracious sovereign debt crisis.
"It's relatively difficult to be positive on these developments," senior fixed-income analyst Marius Daheim with Bayerische Landesbank told Reuters. "But we haven't given up because the past has also taught us that European politicians usually move when things become really dangerous. I think we are quickly moving towards this point."
The 17-nation monetary unit also climbed in value against the Japanese yen after having touched its lowest value in 11 years. The world's reserve currency advanced against the monetary unit of the Pacific rim nation as well, boosted by stronger yields on U.S. Treasury notes that rose for the first time in four days.
Reuters reports officials are believed to be toiling to preserve Greece's place within the euro zone despite the Aegean nation having needed two tranches of bailout aid in the past two years.
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