The euro managed to trim its losses against the US dollar on Friday, but remained under pressure as concerns over the Greek debt situation continued to put pressure on the single currency. On Thursday the International Monetary Fund (IMF) pulled out of Greek debt talks as it accused Athens of failing to compromise over the much needed reforms. Further talks over the weekend have, it seems, made limited progress. Time is very short for an agreement to be reached and then ratified.
This week, markets will be looking at how the Greece situation unfolds, as well as consumer price index data releases on Tuesday and Wednesday morning. As this is a measure of inflation, any unexpected results could cause euro movement.