The euro held losses
against the majority of its peers on concern Greek banks will be pushed
toward insolvency if the government fails to reach an agreement with
creditors.
The 19-nation currency
had its biggest drop in two months on Monday as the standoff between
Greece and its lenders triggered an unprecedented liquidity squeeze,
renewing doubts about the country’s place in the euro area. The euro
rallied 4.6 percent in April, snapping nine months of declines, on signs
Europe’s economy is improving in response to quantitative easing.
The euro was little
changed at $1.1325 at 9:15 a.m. in Tokyo compared with Monday, when it
plunged 1.2 percent, the biggest decline since March 19. The currency
fetched 135.82 yen, after sliding 0.6 percent to 135.75 on Monday.
The Bloomberg Dollar
Spot Index, which tracks the greenback versus 10 major trading partners,
slipped 0.1 percent to 1,158.93. It rose 0.9 percent on Monday from a
four-month low on speculation that the U.S. economy will rebound from a
sluggish first quarter.
Source: Bloomberg
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