Euro edges down against US dollar, yen in cautious Asian forex trading

The single unit stood at US$1.3277 and 102.46 yen, from US$1.3260 and 102.14 yen. The dollar was at 77.17 yen, edging up from 77.03 yen in New York.

“It's another quiet Asian session ahead, but it should be an eventful night in Europe,” said Emma Lawson, currency strategist at National Australia Bank.

Greek government coalition leaders ended lengthy talks on austerity measures Wednesday, with one remaining point of disagreement, the prime minister's office said.

Agreement on new measures demanded by the EU, the IMF and the European Central Bank and on a debt write-down by banks would open the way for a second rescue and close a key chapter in the eurozone crisis.

This money is vital to prevent eurozone-member Greece from defaulting on 14.5 billion euros (US$19.2 billion) worth of payments to bond holders, which will fall due on March 20.

The market has largely factored in a deal after Greek Prime Minister Lucas Papademos promised to forge an agreement among coalition members, said Rob Ryan, G10 currency strategist at BNP Paribas.

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