Investing.com - The U.S. dollar was almost unchanged against the yen on Monday, as markets were jittery amid uncertainty over a deal to restructure Greek debt while investors eyed a key European summit later in the day.
USD/JPY hit 1.5674 during late Asian trade, the daily low; the pair subsequently consolidated at 76.69, inching down 0.01%.
The pair was likely to find support at 76.48, the low of September 30 and resistance at 76.83, the high of January 4.
Greek Finance Minister Evangelos Venizelos rejected on Sunday a German proposal to have a European Union commission review the country’s budget policy.
Earlier Monday, German Finance Minister Wolfgang Schaeuble said in the Wall Street Journal that the euro zone may refuse to grant Greece a fresh bailout unless it convinces Europe that it can fully implement commitments attached to earlier bailout packages.
Meanwhile, European Union leaders were to gather later in the day to finalize discussions on a German-led deficit-control treaty and sign off on a EUR500 billion permanent rescue fund to be set up this year.
The summit followed warnings at the economic forum that ended Sunday in Davos, Switzerland, that the time has come to end the euro zone’s debt crisis and that measures implemented until now are no longer enough.
Elsewhere, the yen was higher against the euro with EUR/JPY declining 0.49%, to hit 100.88.
Later in the day, the U.S. was to publish government data on personal spending and the consumer price index.
USD/JPY hit 1.5674 during late Asian trade, the daily low; the pair subsequently consolidated at 76.69, inching down 0.01%.
The pair was likely to find support at 76.48, the low of September 30 and resistance at 76.83, the high of January 4.
Greek Finance Minister Evangelos Venizelos rejected on Sunday a German proposal to have a European Union commission review the country’s budget policy.
Earlier Monday, German Finance Minister Wolfgang Schaeuble said in the Wall Street Journal that the euro zone may refuse to grant Greece a fresh bailout unless it convinces Europe that it can fully implement commitments attached to earlier bailout packages.
Meanwhile, European Union leaders were to gather later in the day to finalize discussions on a German-led deficit-control treaty and sign off on a EUR500 billion permanent rescue fund to be set up this year.
The summit followed warnings at the economic forum that ended Sunday in Davos, Switzerland, that the time has come to end the euro zone’s debt crisis and that measures implemented until now are no longer enough.
Elsewhere, the yen was higher against the euro with EUR/JPY declining 0.49%, to hit 100.88.
Later in the day, the U.S. was to publish government data on personal spending and the consumer price index.