The
euro dropped to a one-week low against the dollar as Greeks voted
against yielding to further austerity, raising the risk of an exit from
the currency union.
The
common currency pared its losses as Finance Minister Yanis Varoufakis’s
resignation boosted speculation Greece will reach a deal with its
creditors. Sixty-one percent of Greek voters backed the rejection of
further spending cuts and tax increases in a referendum, data on the
Interior Ministry website show. The yen strengthened against most of its
major peers as the crisis spurred demand for haven assets.
The
euro fell 0.5 percent to $1.1056 at 5 p.m. New York time, having
declined as much as 1.3 percent to reach $1.0970, the lowest level since
June 29, after the announcement of the referendum. The shared currency
weakened 0.7 percent to 135.52 yen. Against the dollar, the yen rose 0.2
percent to 122.57.
Source : Bloomberg
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