FRANKFURT (AP) - The euro rose slightly against the dollar Tuesday as investors awaited earnings reports and after the eurozone's top official said he was confident Greece would sort out its debt problems.
The 16-nation euro bought $1.4402 in European morning trade, up from $1.4369 in European trade Monday.
The British pound bought $1.6411 compared with $1.6335, while the dollar bought 90.38 Japanese yen compared with 90.99 yen Monday. U.S. markets were closed Monday for the Martin Luther King holiday.
This week brings another round of quarterly results from companies like Citigroup Inc. and Wells Fargo & Co., both of which are seeking to improve their finances after being bailed out with tens of billions in taxpayer money during the crisis.
Meanwhile, Europe has been hit by concerns about the debt problems of some of its weaker members. The economic and financial crisis has increased the budget deficits in some eurozone countries, particularly Greece and Ireland, and led to speculation that they will face tough fiscal measures, such as spending cutbacks and higher taxes, that would limit growth in coming years.
Jean-Claude Juncker, the eurozone's top official, on Monday said he was sure that Greece "will be able to re-establish balance (to its public finances) within a reasonable time."
Still, analysts warned the euro could remain volatile.
"Euro bears should be wary of any rebounds, while a close below $1.4280 to $1.4290 could well target the $1.3800 level," said Michael Hewson, an analyst at CMC Markets.
