Early trade in New York: euro off two-week low

The euro rebounded from a two-week low against the dollar on Monday, but remained susceptible to selling on worries over Greece's progress on completing a debt restructuring deal. Growth-linked currencies were hit after Asian powerhouse China lowered its growth target, while euro zone surveys of purchasing managers fell from initial estimates.
The euro has fallen to $1.3158, its lowest since February 17, before recovering to trade at $1.3228, up 0.3 percent for the day. The euro will likely remain below recent peaks of $1.3486. The Australian and New Zealand dollars were last trading 0.5 percent and 0.8 percent lower against the dollar, respectively. The dollar fell 0.4 percent versus the yen to 81.44 yen, retreating from a high of 81.873 yen on Friday.