June 15 (Bloomberg) -- The euro weakened against the yen and the dollar after the Telegraph newspaper reported the credit terms for German businesses are tougher than at the peak of the global credit crunch.

The euro dropped to $1.3976 as of 9:30 a.m. in Tokyo from $1.4016 last week in New York. The euro declined to 137.16 yen from 137.89 yen. The yen strengthened to 98.14 per dollar from 98.43 yen.

To contact the reporter on this story: Ron Harui in Singapore at rharui@bloomberg.net.

Last Updated: June 14, 2009 20:34 EDT