The U.S. dollar slid on Wednesday while Wall Street stocks rose in volatile afternoon trading after the Federal Reserve signalled it may wait until late this year to raise interest rates.

The Greek central bank warned on Wednesday that the country would be put on a "painful course" towards default and exiting the euro zone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.

U.S. permits for future home construction surged to a near eight-year high in May, suggesting a building up of momentum in housing and the broader economy after a dismal performance at the start of the year.

European shares hit a near four-month low and yields on lower-rated euro zone sovereign debt climbed to their highest point since November, as financial markets braced for the possibility of Greece defaulting on its debt.

Stocks fell on Wall Street on Monday as investors fretted over the consequences of a possible debt default by Greece, but talk of multi-billion dollar healthcare deals buoyed shares in the sector, cutting into the market's loss.

China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.

Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with international creditors provided he gets debt relief in return, something that Germany refuses to countenance.

U.S. stocks fell on Friday as Greek debt talks hit a stalemate and as concern over how soon the Federal Reserve might raise interest rates kept investors cautious.

Wall Street was set to open lower as optimism regarding a resolution of the Greek debt crisis faded with the International Monetary Fund pulling out of bailout talks.

When construction of four 6.5 billion euro toll roads across Greece resumed last year, Greek and foreign businesses rejoiced.