The Euro has risen against the US dollar and is heading for a weekly gain over the prospects an agreement over the Greece’s debt issue.

The Euro is expected to record a gain against 12 of its 16 major currencies for this week even after reports suggested that an index of German business confidence fell for the seventh month in November. Experts say that there is some optimism surrounding the euro and Greece is not expected to become a dominant factor for the market.

The euro rose less than 0.1 percent to $1.2890 this morning after reaching $1.2911, which is its highest level since November 2. The currency has gained more than 1.2 percent against the US dollar this week. Euro slipped 0.4 percent to 105.87 yen and will record a five-day advance of 2.2 percent.

The finance ministers of the Euro zone are expected to meet on November 26 in order to discuss ways to release more loans for Greece and prevent it from defaulting and prevent its exit from the common currency association. Greece has been negotiating with euro-area politicians and the International Monetary Fund over measures required for releasing loans for Greece.