The euro fell from a two-month high against the dollar and the yen after Greek Finance Minister Evangelos Venizelos said there were still doubts on the agreement needed to win a rescue package for the nation. The 17-nation currency erased earlier gains versus the greenback as Venizelos headed to Brussels while politicians in Athens debated the issue of pension cuts needed to secure the 130 billion euro ($173 billion) bailout. The European Central Bank meets today to review monetary policy, after which President Mario Draghi will hold a press conference. The euro lost its gains after “further talks of delays and officials’ comments suggesting we are not getting a deal today� on Greece, said Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd. in London. “After the ECB decision arrives, all eyes will switch from Greece to Draghi to gauge the dovishness or hawkishness from the conference.� The euro fell 0.2 percent to $1.3237 at 12:26 p.m. London time after rising to $1.3313, the highest since Dec. 12. The common currency was little changed at 102.21 yen after reaching 102.77 yen, the strongest since Dec. 13. The yen dropped 0.2 percent to 77.19 per dollar. Euro-area finance ministers meeting at 6 p.m. in Brussels are unlikely to take major decisions on Greece’s second bailout and debt writedown, a euro-region government official said. Ministers can’t act until Greece has completed all aspects of a deal on measures to overhaul its economy, the official said on condition of anonymity because the discussions have yet to take place. ECB Meting The ECB will keep its benchmark interest rate at 1 percent today, according to all but two of 57 analysts surveyed by Bloomberg. The others predicted a cut to 0.75 percent. The rate was held at 1 percent at the central bank’s January meeting, following quarter-point reductions in November and December. The euro rose 0.8 percent against the dollar and 0.7 percent versus the yen after the ECB’s prior meeting on Jan. 12. The euro has gained 0.5 percent in the past month according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-nation currencies. The dollar dropped 3.5 percent and the yen declined 4 percent. The Dollar Index (DXY), which Intercontinental Exchange Inc. uses to track the greenback against the currencies of six U.S. trading partners, dropped 0.1 percent today to 78.665 after touching 78.407, the lowest since Dec. 8. The pound rose against the euro and the dollar after the Bank of England said it would raise its bond-buying program by 50 billion pounds ($79.4 billion). The nine-member Monetary Policy Committee raised the target for bond purchases to 325 billion pounds, more than a quarter of current outstanding gilts, according to a statement in London today. The increase was forecast by 34 of 50 economists in a Bloomberg News survey. The MPC also held its benchmark interest rate at a record-low 0.5 percent. The U.K. currency appreciated 0.5 percent to 83.44 pence per euro. It climbed 0.4 percent to $1.5875. To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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