EUR Down on Continued Greek Woes

By IBTimes Staff Reporter | March 23 2010 9:13 AM

The EUR is down versus 12 out of 16of its most traded counterparts over disappointment that Euro-Zone leaders will fail to agree on an aid package for Greece. The USD was also strengthened ahead of the release of the U.S housing data later today. The result is expected to show that existing house sales fell by another 2% in February after dropping by 7.2% in January.

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The EUR is down at $1.3490 from $1.3554 and at ¥121.94 from ¥122.21. The Dollar was up at ¥90.38 from ¥90.15.

The Pound was down ahead of Wednesday's U.K. budget statement as well as after the release of the CPI which showed that inflation fell back to 3% in February from 3.5% in January. The expectation was a fall to only 3.2%. Sterling declined to $1.4995 and to 89.93 pence per EUR.