On Wednesday, Asian shares eked out modest gains but the single currency struggled for fresh upward momentum on doubts about the long-term feasibility of the Greek bailout and concerns about rising oil prices.
The doubts over Greece are expected to weigh on sentiments of the European market and major European markets are expected by financial spreadbetters to open flat to down 0.3 percent. Before swinging nearly 0.2 percent higher, MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS fell earlier as much as 0.7 percent.
The euro was struggling for fresh support after pulling back from Tuesday's near two-week highs of $1.3293 after the Greek bailout deal was clinched while the United States dollar hit a fresh six-month high against the yen above 80 yen.
"If you look at how much the equity market had already moved year to date, you'd expect the market to take a bit of a breather," said Markus Rosgen, head of Asia strategy at Citigroup in Hong Kong. "Equity markets had run up quite quickly and strongly. A break is something that wouldn't surprise me." "Investors are undecided whether they should buy more or wait for a pullback," Rosgen said, adding markets were a bit overbought technically but valuations remained attractive.