Yahoo Finance Euro stays weak on Greece worries
The euro was under pressure Tuesday after tumbling in US trade on worries about the long-running talks between cash-strapped Greece and its creditors on reforming its bailout terms.
In Tokyo, the single currency bought $1.1314 against $1.1315 in New York, where it sank 1.1 percent from a three-month high. It also fetched 135.70 yen from 135.75 yen.
Greece on Monday entered the final stretch of tortuous talks with the European Union and International Monetary Fund, with Athens calling for a breakthrough by the end of the month.
The government and creditors have been stuck in a deadlock for four months over the reforms required to release a final 7.2 billion euros in bailout funds that are needed to service its debts.
There are fears that if it defaults on those loans Greece could tumble out of the eurozone.
However, European economic affairs chief Pierre Moscovici said Greece's anti-austerity leadership seemed more interested in ditching promised reforms than in making proposals of its own.
"Against this unsettled political backdrop, it is difficult to see the euro's recovery... continuing," Australia & New Zealand Banking Group analyst Brian Martin wrote in a report.
"The euro's recovery would seem to have gone far enough for now."
The dollar was almost unchanged at 119.94 yen from 119.97 yen in New York, but up from 119.63 yen in Tokyo earlier Monday, as traders await Japan's first-quarter economic figures due Wednesday as well as minutes from the Federal Reserve's most recent policy meeting.
The dollar was mostly higher against other Asia-Pacific currencies.
It firmed to 44.49 Philippine pesos from 44.44 pesos on Monday, to Tw$30.44 from Tw$30.42, to 1,090.58 South Korean won from 1,084.61 won, and to 13,169.90 Indonesian rupiah from 13,115.00 rupiah.
The unit also rose to 63.68 Indian rupees from 63.55 rupees and to Sg$1.3277 from Sg$1.3225, while it slipped to 33.37 Thai baht from 33.48 baht.
The Australian dollar fell to 79.94 US cents from 80.18 cents while the Chinese yuan rose to 19.33 yen from 19.28 yen.
-- Bloomberg News contributed to this story --
