The euro slid to its lowest in more than a week against the dollar and from two-month peaks versus the yen on Wednesday as euro zone officials considered ways to delay a second bailout package for Greece while still avoiding a chaotic default.
European Union sources said the delay may last until after Greece holds elections in April. That could present difficulties because Greece has bond redemptions due on March 20. The news triggered stop-loss sell orders on the break of $1.31 in euro/dollar and below 102.82 yen in euro/yen.
In midday New York trading, the euro was down 0.4 percent at $1.30660, falling as low as $1.30580 on trading platform EBS, its lowest since February 6. Against the yen, the euro fell from roughly two-month highs at 103.490 yen after the Greek news to session lows at 102.220. The dollar, meanwhile, slipped against the yen to trade 0.2 percent lower at 78.348, but with good support at 78.25 yen from Japanese life insurance firms and importers.
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