Euro remains trapped into positive negative commentaries on Greece

While weaker dollar is providing the necessary support to Euro, clear conviction is lacking and Euro remains trapped under Greek pile.

Positive and negative commentaries on Greece are taking their toll on Euro.

• Earlier today, German chancellor positive views on possibility of Greek deal provided support to Euro.
• Euro group chair, Dutch finance minister Jeroen Dijsselbloem says he is not so confident that anything new would emerge from today's Euro group meeting.

It is quite worrying that, Greek finance minister Yanis Varoufakis is not bringing anything new on the table today for discussion and according to Mr. Dijsselbloem Creditors' proposal already have enough concession.

The discussion is likely to be to bridge the gap then, as per best guess.

• Spanish finance minister provided words of encouragement. As per Mr. Sapin, the gap is not wide enough, which can't be bridged.

With proposals, counterproposals, commentaries hitting the wire, the market still remains hopeful of a last minute deal, which might save the day.

Euro is currently trading at 1.14, trapped in 1.134-1.142 against dollar for the day.