TOKYO – 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 .
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, and was down 0.5 percent against the yen at 138.28.
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 and the Dow Jones industrial average logged slight gains, while the Nasdaq Composite edged down.
The U.S. central bank’s policy-setting committee will hold a regular meeting on Tuesday and Wednesday this week.
Crude oil futures slipped in early trading, extending the previous two session’s declines as investors took profits on worries that higher Saudi Arabia output would feed the global supply glut.
Brent crude shed about 0.9 percent to $63.32 after gaining 0.7 percent for the week, while U.S. crude fell 0.3 percent $59.79 after gaining 1.5 percent on the week.
As reported by Business Insider