EUR/USD Drops to 1.1050 on Greek ‘No’ Vote

The euro fell sharply on Monday, while the safe-haven Japanese yen rallied after Greeks voted to reject terms of a bailout, setting the country on course to financial ruin that could splinter Europe if creditors refuse further aid.

The common currency slid to a six-week low of 133.700 yen, from 136.185 late on Friday. It has since halved those losses in volatile trade to stand at 134.785.

Versus the greenback, the euro came within a whisker of a one-month trough of $1.0955 set a week ago. It fell as far as $1.0969, before recovering a bit of ground to $1.1009.