The euro dropped more than 1 percent as trading opened in Asia Monday after Greece’s government moved the nation a step closer to leaving the currency bloc by effectively asking voters to decide on its membership.
The yen climbed against all 10 major developed counterparts as investors sought the haven of the Japanese currency. Greek Prime Minister Alexis Tsipras rejected the latest aid proposals by creditors on Friday, announcing a referendum on them for July 5 and saying he would advocate a “no” vote. With cash flooding out of its banks at a record pace and the bailout expiring Tuesday, Greece plans to shut lenders Monday.
David Goodman, Anooja Debnath | Bloomberg