NEW YORK (AP) — The euro is falling against the dollar after European Union officials delayed Greece's next installment of bailout funds until the government passes austerity measures.
In morning trading Monday in New York, the euro slipped to $1.4295 from $1.4315 late Friday. The dollar was mixed against other major currencies — rising against the yen, but falling against the pound.
The next bailout installment, worth about $17 billion, is needed in order for Greece to avoid a default on its debt. Investors and analysts say a default could further hurt the European economy as well as banks holding Greek bonds.
The dollar rose to 80.17 Japanese yen from 80.06 yen. But the British pound rose to $1.6209 from $1.6178
