Euro is under pressure because of Greece
EUR/USD fell below 1.0700. The euro was hit by the rising concerns that Greece could default on its debt and exit the euro area. On Monday the nation’s public sector entities were ordered to transfer idle reserves to the central bank to help alleviate a cash squeeze.
AUD/USD declined and is testing levels below 0.7700 after the Reserve Bank of Australia released the minutes of its April meeting. There was nothing principally new: the RBA repeated that the Australian dollar was likely to fall further given recent declines in key commodity prices.