Euro Falls as Greek Deal Optimism Tempered by Creditor Pushback

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The euro fell as Greek attempts to reopen negotiations with creditors faced pushback, extending weeks of mixed signals about the nation’s future in the currency bloc.

The 19-nation currency fell versus most of its major peers as German Chancellor Angela Merkel refused to engage until after Greece’s July 5 referendum. The euro weakened against the dollar for a second day as a private payrolls report showed American companies boosted employment in June, supporting Federal Reserve moves to raise rates this year as Europe maintains unprecedented stimulus.

The euro dropped 0.6 percent to $1.1079 as of 12:48 p.m. New York time and fell 0.1 percent to 136.35 yen. Bloomberg’s Dollar Spot Index, which tracks the greenback versus 10 of its major peers, rose 0.6 percent to 1187.94.

Source : Bloomberg