LONDON - THE euro again fell against the dollar on Wednesday as persistent concerns over Greek debt weighed on the European single currency.
The euro dropped to US$1.4065 (S$1.7594) in London trading from $1.4100 late in New York on Tuesday, when the single currency had climbed back above $1.41 after reaching a two-month low point of $1.3970 at the start of the week.
On Wednesday, the dollar rose to 82.10 yen (S$1.26) from 81.91 yen on Tuesday.
'The dollar and the yen are stronger today (against the euro) as concerns over the Greek debt crisis increase along with worries over the extent of economic slowdown in the global economy,' said Derek Halpenny, European head of currency research at The Bank of Tokyo-Mitsubishi UFJ.
Markets fear that any debt restructuring for Greece - which the ratings agencies have said they will treat as an outright default - will increase the pressure on Italy and Spain, the euro zone's third and fourth-largest economies.
A year ago, a 110-billion-euro (S$193 billion) Greek bailout was supposed to have stopped the rot. -- AFP
