Greek financial crisis prompts euro slide in Asia trading

[unhappycamper]

http://www.dw.com/en/greek-financial-crisis-prompts-euro-slide-in-asia-trading/a-18546306

The euro fell against the US dollar in early Asian trading after Athens announced a referendum on its bailout talks for next Sunday. The due date for a 1.6-billion-euro payment to the IMF is just a day away.

Greek financial crisis prompts euro slide in Asia trading
29.06.2015

The 19-nation euro fell as much as 1.9 percent to $1.0955, its lowest level in almost a month, in early trade in Tokyo on Monday. Against the yen, the common currency dropped more than 3 percent to 133.80 yen, a five-week low. The Swiss franc added 1 percent versus the euro, while the UK pound rose 1.1 percent.

Financial analysts reacted to the Greek government's decision to call a referendum on July 5 on its bailout deal as an escalation in the country's financial crisis.

The European Central Bank froze the level of emergency aid available to Greek banks on Sunday.

The announcement of bank closures in Greece for Monday and a limit of 60 euros ($66) for withdrawals from ATM cash machines when they reopen was made on Sunday. It increased concerns of a default and risk that Greece would leave the eurozone.