Euro down at $1.3493 in European morning trade as Fed tightens lending, Greece concerns linger
By APFriday, February 19, 2010
Euro falls below 9-month lows at $1.3493
FRANKFURT — The euro has fallen below nine-month lows against the dollar after the U.S. Federal Reserve started unwinding some of its cheap liquidity measures for banks and as concerns about Greece’s budget linger.
The 16-nation euro bought $1.3493 in in European morning trade Friday, down from the $1.3617 late Thursday in New York. That breaks a nine-month low of $1.3533 from February 12. The euro has tumbled since it traded at just over $1.51 in November.
The British pound is also lower, at $1.5390 from $1.5627, while the dollar is up to 91.94 Japanese yen from 91.34 late Thursday in New York.
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