The euro dropped after a two-week rally on signs Greece is still a long way from reaching a deal to unlock bailout funds.The shared currency resumed a slide that has seen it decline against most of its 16 major peers this year as the European Central Bank buys sovereign bonds to support growth and stave off deflation. That contrasts with the U.S. Federal Reserve, which is debating when to raise interest rates for the first time since 2006 amid signs of a strengthening economy.
The euro slid 0.5 percent to $1.0833 at 5 p.m. in New York. It rose 0.3 percent to 130.08 yen.
Japan’s currency declined for the first time in four days versus the dollar as haven demand fell after China’s central bank said the government can do more to support growth. The yen dropped 0.8 percent to 120.07 per greenback.
Greek Prime Minister Alexis Tsipras sought to rally a consensus in parliament for his effort to secure bailout funds after his proposals to bolster the nation’s finances failed to satisfy his European creditors.
Source : Bloomberg
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