Euro lower at $1.3580 after Greece says it may turn to IMF if EU can’t agree to aid
By APFriday, March 19, 2010
Euro lower at $1.3580 in European morning trade
FRANKFURT — The euro is lower against the dollar in European morning trade after Greece said it may turn to the International Monetary Fund for aid if the EU does not agree to a rescue package.
The 16-nation euro was buying $1.3580 Friday, down from $1.3679 late Thursday in New York.
The dollar was higher, at 90.49 Japanese yen from 90.39. The British pound initially slipped three cents over its own budget worries before settling to $1.5135 from $1.5329 in New York.
The euro has come under pressure as Greece tries to rein in its budget. Athens said this week it may be forced to turn to the IMF for help to lower its market borrowing rates if European countries come up empty-handed at a meeting next week.
