The euro showed some decline against majors on concerns Greek political leaders may not reach consensus regarding the further spending cuts needed to receive a second bailout worth 130 billion euros announced in October, thus tumbling into default as early as March as the government has to repay 14.5 billion euros of debt maturing.

Yesterday, Papademos and political leaders of three parties agreed to make further budget-cutting measures equal to 1.5% of GDP, yet they will continue talks today to flesh out details as well as other to discuss measures demanded by international lenders to grant Greece a second aid fund; specifically, bank recapitalization framework, wage cuts and measures to enhance competitiveness.

Papademos will also conduct talks today with the troika on details of the needed spending cuts, while a government official said yesterday Greece still must hammer out details of fiscal measures for this year.

Greece is set to sell 625 million euros of 26-week notes today, where the auction was supposed to take place on February 10.

Regarding fundamentals, a German industrial production added to worries as German industrial production plummeted 2.9% in December from a revised of 0.0%, while, on the yearly basis, the reading advanced 0.9%, yet it came below a revised of 4.4%.

Concerning the EUR/USD pair, it fell on the daily basis to trade around 1.3120, after recording a high of 1.3167 and a low of 1.3087.

The trading range for today is among key support at 1.2860 and key resistance at 1.3315.

The U.S. dollar, on the other hand, rebounded slightly against a basket of major currencies, where the dollar index rose to 79.10 compared with the day's opening level of 78.04.

The USD/JPY rose significantly after a report showed Japan adopted so-called stealth intervention to depreciate its currency in November.

Currently, the pair is trading around 76.75 after reaching a high of 76.79 and a low of 76.50, where the trading range for today is among key support at 75.50 and key resistance now at 77.90.

Moving to the GBP/USD pair, it is currently traded lower around 1.5812 after touching a high of 1.5838 and a low of 1.5790, where the pair has followed by the general sentiment which is fueled worries from Greece, thereby lowering demand on high-yielding currencies.

The trading range for today is among key support at 1.5585 and key resistance at 1.5975.