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The euro fell versus the dollar, extending a five-week loss, amid signs European leaders are struggling to agree on how to resolve the region’s debt crisis.

The 17-nation euro remained lower versus the yen, following last week’s slide, before German Chancellor Angela Merkel meets fellow coalition leaders today after opposing joint debt sharing in the euro area. The greenback gained versus the yen on prospects officials will stem the Japanese currency’s gains. It also rose as Asian stocks fell, boosting demand for the relative safety of U.S. currency. Australia’s dollar dropped before Reserve Bank policy makers meet tomorrow.

http://www.businessweek.com/news/2012-06-03/euro-drops-as-german-opposition-boosts-debt-crisis-woes