By William L. Watts
FRANKFURT (MarketWatch) -- The euro gave up gains versus the dollar, facing renewed pressure after Spain's budget minister reportedly said the country is effectively shut out of financial markets by high borrowing costs. The euro EURUSD -0.54% traded at $1.2437, down from $1.2493 late Monday. The shared currency had earlier pushed back above the $1.25 level. "The risk premium says Spain doesn't have the market door open," Treasury Minister Cristobal Montoro told Spain's Onda Cero radio, according to Reuters.
