Summary Euro strengthened against dollar despite the breakdown in talks between Greece and creditors.
NEW YORK (AFP) - The euro strengthened against the dollar and yen Monday despite the breakdown in talks between Greece and official creditors that heightened worries the eurozone country will default on its debt.
The common currency s gain was modest, but reversed early weakness that came after a rise in tensions between Athens and its EU creditors over the terms for a release of another 7.2 billion euros in bailout funds.
Helping the euro was fresh US data on industrial output showing an 0.2 percent downturn in May, worse than expected.
With the Federal Reserve meeting on Tuesday and Wednesday to review plans for an interest rate hike, the poor data supported the view that the Fed will remain patient and wait to see what economic data does over the next month or two.
"It s shaping up to be a make-or-break week for the greenback as all eyes turn to a highly-anticipated US Federal Open Market Committee interest rate decision," said David Rodriguez of Daily FX.
