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Sunday, June 28, 2015

Markets in Asia are opening, and the euro is getting slammed (EUR, USD, EURUSD, GREK)

We've got our first look at markets after a weekend full of Greek drama, and to start things off the euro is getting slammed.  In very early trading on Monday is Sydney, the euro dropped more than 1% to $1.1029 against the dollar, according to Bloomberg.  The euro closed at $1.1167 against the dollar on Friday.  The euro was also down as much as 2.5% against the Japanese yen. EURJPY splat. — Joseph Weisenthal (@TheStalwart) June 28, 2015 Over the weekend, we were bombarded with news out of Greece, but most significantly we learned that on Monday, Greek banks will be closed. This "bank holiday" will reportedly be in effect through July 5, when Greece has scheduled a referendum to vote on the latest bailout proposal from its European creditors.  Futures in the US won't open for a few hours, so we're still on hold a bit until we get a bigger picture of what markets are doing in the wake of the Greece news.  But right now, markets aren't looking too thrilled about the news. SEE ALSO: Greece is in a lose-lose situation Join the conversation about this story » NOW WATCH: 12 awesome facts about WWE superstar Brock Lesnar