Euro reaches ten month low against US dollar
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The euro reached a ten-month low against the US dollar earlier today over concerns about Greece's debt crisis. The euro traded at US$1.3436 in the morning, a level not seen since May of last year, although it finished the day back up at $1.3606. It was, however, up 0.6% against the British pound, at 90.76 pence. The pound also fell today, reaching a trading level of $1.4936 after a loss of 0.4%. "The spike lower this morning indicates market nervousness about the prospects of a Greek bailout - the message coming out of Europe is still confus
The euro reached a ten-month low against the US dollar earlier today over concerns about Greece's debt crisis.
The euro traded at US$1.3436 in the morning, a level not seen since May of last year, although it finished the day back up at $1.3606.
It was, however, up 0.6% against the British pound, at 90.76 pence. The pound also fell today, reaching a trading level of $1.4936 after a loss of 0.4%.
"The spike lower this morning indicates market nervousness about the prospects of a Greek bailout - the message coming out of Europe is still confused," commented an analysts for CMC Markets, Michael Hewson, as quoted by Agence France-Presse.
Sources & reporting note
Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 3 Mar 2010, 05:30 am IST
