The euro fell half a percent to $1.3901 by 7:57 am in New York after touching a four-month high yesterday. The sell-off was triggered by Moody’s downgrading of Greece which brought the euro debt crisis back into focus.
“There is a risk that events in the euro zone will tilt the balance†for the currency, said Neil Mellor, a London-based strategist at Bank of New York Mellon Corp. “I wouldn’t want to be particularly long the euro at the moment.â€
Source: Bloomberg
