Investing.com - The euro slid against the yen on Tuesday amid concerns that opposition to austerity measures coming from within Greece's ruling coalition may threaten the flow of bailout money into the country.
In Asian trading on Tuesday, EUR/JPY hit 102.54, down 0.20% and up from a low of 102.53 and off a high of 102.66.
The pair sought to test support at 102.45, Monday's low, and resistance at 103.34, Monday's high.
Concerns continued to escalate that Greece will run into opposition to meeting austerity targets imposed on the country by European and multilateral creditors in exchange for bailout money.
The Greek government has sought approval for an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes from Parliament, though coalition politicians have balked.
Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International Monetary Fund, the European Commission and the European Central Bank.
Some coalition politicians have said they oppose wage cuts.
Greek Prime Minister Antonis Samaras has said proposed wage cuts are the last of such measures, though investors still sidestepped the single currency to avoid uncertainty.
Greece's lawmakers are due to vote on the austerity proposal on Wednesday, which could determine if Athens receives its next shot of rescue funding.
The euro, meanwhile, was down against the pound and down against the Canadian dollar, with EUR/GBP trading down 0.06% at 0.8003 and EUR/CAD trading down 0.11% at 1.2737.
In the eurozone later Tuesday, Germany is to produce official data on factory orders, a leading indicator of production.
In Asian trading on Tuesday, EUR/JPY hit 102.54, down 0.20% and up from a low of 102.53 and off a high of 102.66.
The pair sought to test support at 102.45, Monday's low, and resistance at 103.34, Monday's high.
Concerns continued to escalate that Greece will run into opposition to meeting austerity targets imposed on the country by European and multilateral creditors in exchange for bailout money.
The Greek government has sought approval for an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes from Parliament, though coalition politicians have balked.
Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International Monetary Fund, the European Commission and the European Central Bank.
Some coalition politicians have said they oppose wage cuts.
Greek Prime Minister Antonis Samaras has said proposed wage cuts are the last of such measures, though investors still sidestepped the single currency to avoid uncertainty.
Greece's lawmakers are due to vote on the austerity proposal on Wednesday, which could determine if Athens receives its next shot of rescue funding.
The euro, meanwhile, was down against the pound and down against the Canadian dollar, with EUR/GBP trading down 0.06% at 0.8003 and EUR/CAD trading down 0.11% at 1.2737.
In the eurozone later Tuesday, Germany is to produce official data on factory orders, a leading indicator of production.