Midday trade in New York: euro scales eight-week peaks

The euro gained across the board, hitting eight-week highs against the dollar on Tuesday, after a Greek official said the government is drafting an agreement on a bailout deal that will be put before political leaders for approval later in the day.
The official's statement suggested that the Greek government has completed negotiations with lenders on its 130 billion-euro rescue package, although agreeing to the painful austerity measures that come with the bailout could be a challenge.
In midday New York trading, the euro was up 0.8 percent at $1.32420, hitting eight-week highs of $1.32708 on trading platform EBS in the wake of the Greek news. The euro blew through option barriers at $1.32 and stops at $1.3220. Against the yen, the dollar hit a more than one-week high at 76.970 yen and was last at 76.856, up 0.4 percent, while the euro surged 1.2 percent to 101.772 yen.