The euro fell almost 2 percent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs. With the prospect of Greece being forced out of the euro in plain sight, the common currency fell as much as 1.9 percent to $1.0955, its lowest in almost a month, and last stood down 1.4 percent at $1.1007.
Against the yen, the common currency dropped more than 3 percent to 133.80 yen, a five-week low. U.S. stock futures dived almost 2 percent at one point to hit a three-month low, and last traded down 1.6 percent.
Japan’s Nikkei fell 2.1 percent while MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.4 percent. Chinese shares were volatile and whipsawed between positive and negative territory, with the Chinese central bank’s measures on Saturday to support the economy unable to calm jittery investors.
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