EUR review

Western Union notes:

The euro weakened Friday as Greek talks on badly needed rescue money suffered a setback in the IMF walking away from negotiations. The euro was also hurt by comments from German Chancellor Angela Merkel that indicated the strong euro was counterproductive for efforts under way in the region to reform economies. 

Hope remains for Greece to eventually win more rescue money. But efforts to date have done little to bolster optimism in a deal anytime soon. The euro zone economy ended the week on a tepid note with industrial production up a mere 0.1 percent in April, a fraction of forecasts of a 0.3 percent increase.