Euro falls 1 pct on day vs dollar

By IBTimes Staff Reporter | August 11 2010 4:09 AM

The euro fell 1 percent on the day versus the dollar on Wednesday as investors pared back risk in the wake of the Federal Reserve's decision to reinvest proceeds from maturing mortgage bonds into government debt.

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The euro EUR= fell to $1.3039, its lowest level since July 30, with traders saying stop-losses were triggered on the break of $1.3050. It also traded down over 1 percent versus the yen EURJPY=R at 111.35 yen. (neal.armstrong@thomsonreuters.com; Reuters Messaging: neal.armstrong.reuters.com@reuters.net; +44-207-542-0876))

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