The euro last traded at USD 1.1145, down 0.2 percent on the day. Earlier today, it had slid as far as USD 1.1090, having stood at USD 1.11625 in late US trade on Friday.

Against the yen, the euro fell 0.2 percent to 136.65 yen, having retreated to as low as 135.40 yen earlier on Monday. Greece was told to push legislation through Parliament this week to convince its euro zone creditors to release funds to avert a state bankruptcy and start negotiations on a third bailout programme estimated at up to 86 billion euros (USD 95.5 billion).

A draft decision by Eurogroup Finance Ministers sent to the leaders showed that Greece must enact measures including tax and pension reforms by Wednesday night, and the entire package endorsed by parliament before talks on a bailout can start. "Having thought that yesterday was the absolute, final deadline, we now have another absolute, final deadline on Wednesday," said Callum Henderson, global head of FX research for Standard Chartered Bank in Singapore.

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