Asian session: The euro fell
The euro fell the most in a week against the dollar and slid to a record versus the Swiss franc on concern European leaders will fail to agree on measures to contain the region’s debt crisis at a summit this week.
The 17-nation currency dropped for the first time in four days versus the yen after European Central Bank President Jean- Claude Trichet reiterated his opposition to any restructuring of Greek debt.
The franc strengthened for a seventh day against the euro and the dollar as a decline in Asian stocks boosted demand for safer assets.
Australia’s dollar weakened for a third day as traders added to bets the central bank will cut interest rates over the next 12 months.
Euro-area leaders will meet in Brussels on July 21 to discuss the “financial stability” of the region, European Union President Herman Van Rompuy said in an e-mailed statement on July 15. The second summit in a month follows a worsening of the crisis that pushed Italy to the attention of investors and drove bond yields to euro-area records across Europe’s most debt-laden nations.
EUR/USD: the pair decreased in $1.4050 area.
GBP/USD: the pair holds at $1.6060-$ 1.6130.
USD/JPY: the pair holds at Y78.90-Y79.20.
US events start at 1300GMT, when the Treasury International Capital System (TICS) data will put hard numbers on demand for US debt and