The euro weakened against the other major currencies in the early Asian session on Monday, as concerns over Greece continued to impact the markets.

Investors continue to focus on developments in Greece after the country's interior minister, Nikos Voutsis, told Greek Mega TV's weekend show that the installment to the IMF due next month won't be paid unless there is a deal with creditors.

Reports emerged that Germany and the IMF are becoming increasingly hardline in their approach to Greece in the ongoing bailout talks.

Meanwhile, finance ministers and central bankers from G7 nations will begin a three-day meeting in Dresden, Germany on Wednesday to address faltering global growth.

Trading activity is likely to be very thin as the U.K. and U.S. markets are shut for the Spring Bank Holiday and Memorial Day, respectively. Parts of Europe will observe the Whit Monday holiday.

Asian shares are mostly up, after the Fed chair Janet Yellen backed her plan to start raising rates later this year.

Yellen hinted that it would be appropriate to raise interest rates at some point this year, as long as economic activity picks up. Also, rising shelter and medical care costs boosted underlying inflation pressures, the Labor Department reported, sending the dollar higher and pushing government bond yields up.

Last Friday, the euro fell 0.15 percent against the pound, 0.91 percent against the U.S. dollar, 0.25 percent against the Swiss franc and 0.51 percent against the yen.

In the Asian trading today, the euro fell to a more than a 2-week low of 1.0341 against the Swiss franc and nearly a 2-week low of 1.3484 against the Canadian dollar, from Friday's closing quotes of 1.0381 and 1.3514, respectively. If the euro extends its downtrend, it is likely to find support around 1.01 against the franc and 1.32 against the loonie.

Against the pound and the U.S. dollar, the euro slipped to nearly a 2-1/2-month low of 0.7088 and nearly a 3-week low of 133.29. Thereafter, the euro held steady against both the currencies.

The euro slipped to nearly a 3-week low of 133.29 against the yen and held steady thereafter.

Data from the Ministry of Finance showed that Japan had a merchandise trade deficit of 53.44 billion yen in April.That beat expectations for a deficit of 386.8 billion yen following the 3.3 billion yen surplus in March.

Exports climbed 8.0 percent on year - also topping forecasts for an increase of 6.0 percent following the 8.5 percent jump in the previous month.

Against the Australia and the New Zealand dollars, the euro edged down to a 5-day low of 1.4025 and a 2-week low of 1.5009. Thereafter, the euro held steady against both the currencies.

At 11:00 am ET, Federal Reserve Governor Stanley Fischer will deliver a speech titled "The Federal Reserve and the World Economy," in Israel.

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