Asian session: The euro fell
The euro fell for a third day versus the yen and slid against the dollar before European leaders meet to discuss the Greek debt crisis today amid concern a default would risk spreading contagion to other countries in the region.
Luxembourg’s Jean-Claude Juncker said a “haircut” for holders of Greek securities would have unpredictable knock-on effects.
Australia’s dollar fell as Asian stocks declined, reducing demand for higher-yielding assets.
EUR/USD: the pair shown low in $1.4130 area.
GBP/USD: the pair shown low in $1.6100 area.
USD/JPY: the pair decreased in area Y80.50.
It is a quiet end to the week - in terms of the European data calendar at least. European data starts at 0600GMT with ACEA May new car registrations, although of more interest will be EMU trade data for April, which isreleased at 0900GMT at the same time as EMU construction output, also for April. At 1300GMT, the International Monetary Fund releases it's quarterly update of the World Economic Outlook.
US data starts at 1355GMT, when the Michigan Sentiment Index is expected to rise to a reading of 74.5 in early-June after rising sharply to 74.3 in May.