The Asian currencies turned their movements from the upside to the downside as a negative outlook for the global economic growth during this period after some euro- area nations are pushing Greek bondholders to accept larger write-downs, increasing the demand for safe haven currencies such as the Yen that rose against the common currency.

Moreover, the Australian and New Zealand dollar declined versus the major counterpart the greenback amid concern about European leader will fail to agree on a solution for the European debt crisis.