Euro Holds Four-Day Gain as Greek Bonds Surge on Bailout Talks
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The euro held a four-day advance as Greece and its creditors came closer to an agreement on a third bailout, spurring a rally in the nation’s bonds.
The single currency traded above its third-quarter median estimate of $1.07 as negotiators worked on details including Greece’s fiscal outlook and the size of the total bailout. The yield on Greece’s two-year government note plunged Monday on speculation the aid may end up slightly higher than the 86 billion euros ($95 billion) envisaged.