Euro slips, mood darkens as Greece fails to reach deal

Sun Jun 14, 2015 7:58pm EDT
 
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By Lisa Twaronite

TOKYO (Reuters) - The euro slipped in early Asian trade on Monday, after Greece's talks with lenders to avert a default ended with no agreement and a downbeat day on Wall Street was also likely to pressure Asian shares.

U.S. stock futures were down about 0.4 percent ESc1.

European Union officials blamed the collapse of the talks on Athens, which it said had failed to offer any new concessions to secure funding it needs to repay 1.6 billion euros ($1.79 billion) to the International Monetary Fund by the end of this month.

The euro skidded 0.4 percent on the day to $1.1215 EUR=, and was down 0.5 percent against the yen at 138.28 EURJPY=.

The Japanese edged up against the dollar, with the U.S> unit falling about 0.1 percent on the day to 123.30 yen.

The euro "remains vulnerable after weekend talks end with no deal," Richard Cochinos, head of Americas G10 FX strategy at Citi in New York, said in a note to clients.

On Friday, shares on Wall Street dropped after upbeat consumer data capped a week of solid economic reports that back the view that the U.S. Federal Reserve was on track to raise interest rates as early as this autumn.

For the week, the S&P 500 .SPX and the Dow Jones industrial average .DJI logged slight gains, while the Nasdaq Composite .IXIC edged down.   Continued...

 
An employee looks at monitors at the Tokyo Stock Exchange (TSE) in Tokyo June 11, 2015. REUTERS/Thomas Peter