Greece failed to honor the deadline they have given themselves to come to an agreement with the euro zone partners about paying back the credits in order to receive new financial aid. This new development is the main reason for the new euro fall on the stock market.
Over the past months, the European currency went up and down a lot, and each time the change was connected with the advances or the setbacks in the negotiations. On the 30 of June, the program of financial help for Greece will expire, and even worse, the country must pay to MMF on Friday.
In relation to the U.S dollar, euro is now weaker for 0.7 percent, and the same percentage fall can be seen against the yen.
One dollar now is equal to 124.15 yens, keeping it under the twelve year max that we saw last week, which was triggered by the investments believes that the shaky monetary policy in Japan could cause change of rates between them and the U.S.