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.