30th January 2012
Ongoing concerns regarding the Greek debt position have pulled down the euro in forex trading this afternoon (January 30th).
So far today, ongoing tense talks over a debt swap deal have failed to result in a conclusion and this is pulling down on investor confidence.
As a result, the euro has fallen to a four-month low against the Swiss franc and it has lost 2.7 per cent against the greenback at $1.3233.
"I think the pullback in the euro today is because maybe the market was expecting something on Greece today and a little bit of optimism has faded," Gavin Friend, currency strategist at National Australia Bank, told Reuters.
Earlier this month, the European single currency rose to a five-week high against the US dollar after the US Federal Reserve announced it is set to hold interest rates in the country at ultra-low levels for at least the next two years.
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