The euro lost its gains against the dollar and the yen as traders sold the single currency after Standard & Poor's warned that Greece's debt rollover plan could shift the ratings into selective default.

Meanwhile, the euro fell to a 4-day low against the pound.

The euro declined to a 4-day low of 0.9007 against the pound, compared to last week's close of 0.9043. If the euro slides further, it will fall below 0.90 and target the 0.898 level.

The euro is currently worth 117.10 against the yen, down 0.6 percent from an early Asian session's near 4-week high of 117.76. The near term support for the euro-yen pair is seen around the 116.2 level. At last week's close, the pair was quoted at 117.44.
Against the U.S. dollar, the euro is now worth 1.4525, compared to more than a 3-week high of 1.4579 hit in early Asian deals. On the downside, 1.445 is seen as the next target level for the European currency. The euro-dollar pair closed last week's trading at 1.4531.

The euro that jumped to near a 7-week high of 1.2347 against the Swiss franc in early Asian deals has been showing choppy trading since then. The euro-franc pair that closed Friday's trading at 1.2323 is now worth 1.2340.