NEW YORK, Feb 11, 2012 (AFP) - The euro took a dive on Friday, as a deal to ease Greece's debt crisis appeared to unravel amid riots on the streets of Athens and a host of cabinet resignations.
"The dollar rallied early Friday, rebounding from two-month lows, as worries flared anew about Greece's ability to secure a default-averting rescue loan," said analysts at Travelex.
The Greek cabinet eventually approved tough austerity measures demanded by EU and IMF creditors, but not before markets were spooked.
The coalition government, hit by defections on Friday, approved the belt-tightening measures on a day that saw renewed street clashes between protesters and police and the start of a two-day general strike.
The European single currency dropped to $1.3181 from $1.3286 in New York late Thursday
The dollar was little changed at 77.59 yen from 77.68 yen.
