Euro weak across the board as Greece concerns weigh

EUR/USD moved off from 1.0990 to dip to 1.0930. Key risk to the euro will be PMI data later in the European session. For now, support is provided by the Ichimoku cloud top on the hourly chart at 1.0939. Euro weakness is driven by Greece concerns.

EUR/JPY was heavy, slipping down to 135.83 from 136.34. GBP/JPY traded between 189.55-90.
EUR/GBP declined from 0.7180 to 0.7160 on a broadly weaker euro.
EUR/CHF was steady, between 1.0310-25. Over the weekend, SNB Chair Jordan again threatened intervention in the currency markets (as a means of stabilizing the Swiss currency and preventing it from strengthening too much).

GBPU/USD had a choppy session, trading down then up but remained in a 1.5262-1.5303 range. Friday’s low 1.5237 supports.

USD/JPY opened in Asia at 124.05 and moved up to a high of 124.33 before slipping. Japanese capital spending data were much stronger-than-expected, helping lift the yen. No major headlines or tier one data resulted in a relatively quiet Asian session.

USD/CHF bounced from 0.9380 to 0.9431 as the Swiss Franc weakened after • SNB Chair Jordan threatens intervention again.

AUD/USD opened in Asia at 0.7642,traded a 0.7629-60 range. Markets shrugged off China PMIs. The main risk event for the aussie will be the RBA policy meeting tomorrow.

NZD/USD fell to the lowest level since September 2010, touching 0.7072 early in holiday-thinned trading. The pair then bounced later to 0.7112 on short-covering but the overall is bias down due to expectations for RBNZ to cut again.

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