Euro Falls Versus Yen; S&P Says Greece May Be Selective Default
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The euro weakened versus the yen after Standard & Poor’s said a debt-rollover plan for Greece may prompt a “selective default” rating for the country.
The 17-nation currency had risen to the highest level since June 8 against its Japanese counterpart on speculation the European Central Bank will increase rates this week. The Swiss franc slipped after retail sales slumped. The Thai baht rose after an election win by allies of former premier Thaksin Shinawatra spurred optimism foreign investors will return.