EUR/USD Drops to 1.10 on Greece

The ongoing Greek debt talks left currency markets in tight ranges on Friday while policymakers traded barbs in Brussels over the latest proposal for working out a debt deal between Athens and its official-sector creditors.

The euro fell below $1.12 to session lows after Greek Prime Minister Alexis Tsipras went on the offensive, seemingly pushing back against the latest offer from the International Monetary fund, European Union and the European Central Bank.

Tsipras said the EU’s founding principles were not based on blackmail and ultimatums.