Euro Lurches Sharply Lower On Greek News

By Michael KitchenMarketWatch Pulse

The euro was trading sharply weaker ahead of the Monday market open for Asia, shedding 2 full U.S. cents after Greece decided to hold a referendum on its bailout terms. At about 6:30 pm U.S. Eastern time, the euro was buying $1.0997, down from $1.1198 late Friday. Related safe-haven buying, meanwhile, buoyed the U.S. dollar, with the ICE Dollar Index at 96.12 against late Friday's 95.270. The Japanese yen also rose, with the euro dropping more than 2% to �134.62, according to FactSet.

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