Euro slips back as Greek default looms

Tokyo

THE euro eased in Asian trade on Tuesday, hours before a debt repayment deadline that Greece was expected to miss, putting it in default and fanning fears it will crash out of the eurozone.

The single currency bought US$1.1190 in Tokyo afternoon trade against US$1.1247 in New York late on Monday. It also fell to 136.90 yen on Tuesday from 137.82 yen. It had rallied from an almost one-month low on Monday on news reports that German Finance Minister Wolfgang Schaeuble said he did not view Greece as a contagion risk for the rest of the eurozone.