Euro drops as investors look to US job figures

Published: 5 Jun at 6 AM Tags: Euro, Dollar,

Concerns over the debt crisis in Greece are one of the reasons the euro has dropped from a two-week peak against the US dollar. Traders are now waiting to see how non-farm payrolls have been performing in the US. The single currency is 0.2 per cent down at $1.1217.

The euro has also come under pressure because German yields have slipped by 0.83 per cent. Greece is continuing to struggle with its debt repayments to lenders. Alexis Tsipras, the Greek Prime Minister, has asked for changes to be made to the terms with which creditors are delivering aid.

A delay has also been made to a repayment of cash to the International Monetary Fund that was due at the end of this week. According to the IMF a bundle of payments worth 1.6 billion euro will be collected at the end of June.

The euro has shed 0.1 per cent against the yen and is trading at 139.60 yen. The dollar is slightly up against its Japanese rival at 124.45 yen.

However the dollar index, which compares the greenback to a number of other major world currencies, looks like it will be down by around 1 per cent at the end of the week.