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Forex: Monday's review
The euro weakened versus the yen after Standard & Poor’s said a debt-rollover plan for Greece may prompt a “selective default” rating for the country.
The euro earlier advanced on speculation the European Central Bank will increase interest rates this week. The ECB on July 7 will increase its benchmark rate to 1.5% from 1.25%, according to economists.
The Swiss franc declined after data showed retail sales fell 4.1% in May from a year earlier. The Swiss currency has advanced 9.3% versus the dollar this year as investors sought a haven amid the euro-area debt crisis.
This morning sees the release of the final services PMIs from the main European states all expected to confirm the preliminary releases, with France at 0648GMT (56.7), Germany at 0653GMT (58.3) and the EMU data at 0658GMT (54.2).
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