Euro falls under $1.27 on former Greek PM comments

NEW YORK (MarketWatch)
The euro extended losses against the dollar late in the U.S. trading session Tuesday following comments from Greece's former prime minister that the economic impact for Greece of leaving the euro zone would be very high, according to Dow Jones Newswires
His comments came just as European Union leaders begin an informal summit, with politicians trying to downplay the chances of any concrete coordination or action to come out of it
The euro fell to $1.2675, from $1.2811 late Monday
The shared currency hasn't closed under $1.27 since January