EUR review

With Greece's debt woes back in focus, the euro drifted further below recent 10-week peaks near $1.14. The Eurogroup of top finance officials from the 19-country bloc holds high level debt talks today with officials from Athens. Today's meeting is expected to be long on talk and short on action for Greece to receive the remaining billions from its bailout loans to remain fiscally afloat and a member of the euro. 

Markets though remain generally hopeful that Greece would ultimately secure the money it needs to meet its obligations. The interim uncertainty though should keep a general headwind on the euro. 

Critical focus for the euro this week will be whether Greece can repay the IMF the €750 million it owes by tomorrow, and how first quarter growth figures from the euro zone fare on Wednesday.