Euro Zone and Euro Currencies

Swiss francs: The euro shed 0.3 percent to 135.45 yen and eased to around 1.0425 Swiss francs from 1.0480 francs late on Friday as ongoing uncertainty about Greece future in the euro zone prompted investors to dump the euro for currencies considered to be safe havens, according to Euro News. A draft decision from Eurogroup finance ministers showed demands for Greece to enact tough tax and pension reforms before financial aid talks can begin. The single currency fell more than 0.5 percent to $1.1090 according to Reuters data, as Greece 18 euro zone partners demanded it push legislation through parliament before starting negotiations on a third bailout programme. It also included a German proposal to make Athens take a time-out from the euro zone if it failed to meet the conditions for a loan. The euro zone meeting has broken up and we don’t know much more other than it looks a lot worse than it did on Friday, said Tim Kelleher, head of institutional FX sales at ASB bank in Auckland. As the latest bailout talks entered a third week, traders said the uncertainty could prompt more selling of the euro. (news.financializer.com). As reported in the news.