The euro came under pressure in Asia on Wednesday after Moody's downgraded Italy's credit rating, fuelling worries over eurozone debt and the impact of a possible Greek default on the global economy.
The euro fell to $1.3308 in Tokyo trade from $1.3338 in New York late Tuesday. The single currency also sagged to 102.06 yen from 102.14 yen.
The dollar inched down to 76.69 yen from 76.82 yen.
'The market is jittery about political wrangling hampering aid to Greece after the eurozone finance ministers' meeting has shown no immediate action and need for more time,' said Teppei Ino, analyst at the Bank of Tokyo-Mitsubishi UFJ.
Two-day talks between European finance ministers wrapped up with no fresh news Tuesday, while Athens was denied the next eight-billion-euro ($10.7 billion) tranche of bailout money it needs to avoid defaulting on its debts.
Ratings agency Moody's on Tuesday downgraded Italy's government bond rating by three notches from Aa2 to A2 with a negative outlook, citing risks for the financing of long-term debt and slow economic growth.
The move poured cold water on sentiment after the euro gained and US stocks saw a last-minute rally overnight.
