The euro slid to seven-month lows against the dollar on Monday and could stay under pressure this week on fears of a Greek default and a possible rating downgrade of French banks. The single eurozone currency see-sawed between losses and gains in New York, advancing earlier after government assurances that France could withstand a Greek crisis.
The yen, meanwhile, was a big beneficiary of safe-haven flows, surging to a 10-year peak versus the euro and staying well-bid against the dollar. That increased the risk of intervention by Japanese authorities. The euro fell as low as $1.34949, its lowest since February on trading platform EBS, and was last at $1.36490, slightly down on the day. Traders said it came off lows on bargain hunting from European funds and sovereign investors, but analysts expected further falls. Against the yen, the euro fell to 103.90 yen, its lowest in 10 years, according to Reuters data, having broken below big option triggers at 105 yen and 104.50 yen. It was last at 105.21, down 0.7 percent on the day.
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