Euro struggles as Greek debt talks collapse
Tokyo
THE euro lost more ground against the US dollar in Asia on Tuesday after talks between Greece and its creditors collapsed, fanning fears that the country will tumble out of the eurozone. In Tokyo, the common currency fell to US$1.1357 from US$1.1390. However, it edged up to 134.70 yen from below 133 yen in early Asian trade on Tuesday and 134.53 yen in London on Monday. US markets were closed on Monday for a holiday.
"Greece and Germany came to the talks with different preconditions, and the lack of compromise is weighing on the euro," Yuji Saito, director of foreign exchange at Credit Agricole SA in Tokyo, told Bloomberg News. The US dollar was at 118.55 yen, compared with 118.47 yen.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks