The euro is surging.
On Tuesday morning, the euro was up by almost 2% against the dollar, surging past the 1.11 level.
The dollar index fell more than 1% to the lowest level in more than a week.
It's a big week for Greece, and there are signs of progress.
The leaders of all the country's major creditors met Monday night, and Greece has finally submitted a list of reforms to its creditors. The details were not made public, but sources close to the negotiations told Reuters there were no major new concessions. Jeroen Dijsselbloem, the Eurogroup president, said a deal with creditors was still far, according to Bloomberg.
Greece's next payment to the International Monetary Fund is due Friday.
The rally also follows news that inflation has reappeared in Europe for the first time since November.
Here's a chart showing the rally:
See the latest EUR-USD movements here.
