NEW YORK ( BBH FX Strategy) -- The dollar has pared back some of its recent losses as policy makers plan for a grand solution for the eurozone crises at this weekend's European Union summit.The G20 finance ministers said they expect this weekend's EU summit to decisively address the current challenges through a comprehensive plan, which continues to support stocks and commodities with crude oil near $87 a barrel. Asian stocks rallied sharply with the MSCI Asia Pacific index up 2%, after benefiting from Friday's encouraging U.S. data and ongoing optimism over potential rescue plans from Europe. European stocks remain bid, extending their longest rally since April with the EuroStoxx 600 advancing 0.4%. Shares are led by the nearly 2% rally in oil and gas with banks sharing tracking moves in the broader index. Against this backdrop, 10-year peripheral yields are mostly lower while bunds and gilts are mixed. Follow TheStreet on Twitter and become a fan on Facebook.