During early deals on Tuesday, the euro slipped against most major currencies after reports rekindled concerns over Greece’s fiscal woes, prompting investors to sell the common currency.
The euro plunged to a new record low against the aussie, new multi-year low against the Canadian dollar, 6-day lows against the US dollar and the yen. Meanwhile, the euro showed choppy trading against the franc and the NZ dollar, but advanced against the pound.
Market News International reported, citing senior government officials in Athens it didn’t identify, that the Greek government wants to amend the accord for financial aid reached at an European Union summit held last month.
Traders sold the euro on fears that such a move may complicate Greece’s efforts to return to fiscal health.
Also hurting the euro was a report in the Tuesday edition of the Financial Times that Greece aims to raise $5 billion-$10 billion in a debt sale in the United States later this month. The report added to investor concerns that Greece won’t be able to sell its bonds sufficiently at home.
However, the European stocks opened higher today following a positive lead from Wall Street where major US averages closed higher overnight after the release of some encouraging economic data.
At 3:45 am ET, U.K’s FTSE 100 was up by 22 points or 0.4%, Germany’s DAX gained 13 points or 0.21% and France’s CAC 40 rose by 17 points or 0.4%.
The euro fell to a 6-day low of 1.3407 against the U.S. dollar at 3:15 am ET. As of now, the euro-dollar pair is worth 1.3410, compared to yesterday’s close of 1.3487.
The euro showed choppy trading against the Swiss franc during early European session on Tuesday. At 3:30 am ET, the euro traded near yesterday’s close of 1.4325 against the franc.
The Swiss CPI report for March released at 3:15 am ET did not influence the euro-franc pair.
Swiss consumer price inflation rose to 1.4% on an annual basis in March, the Federal Statistical Office reported today. Following an annual growth of 0.9% in consumer prices in February, economists were expecting inflation to rise to 1.5%.
On a monthly basis, consumer prices edged up 0.1% in March, slightly slower than the consensus forecast of 0.2%.
Against the U.K. currency, the euro advanced to 0.8838 at 3:35 am ET, compared to yesterday’s close of 0.8820. As of now, the euro-pound pair is worth 0.8835.
The euro slipped to a 6-day low of 125.76 against the yen at 3:45 am ET. Presently, the euro-yen pair is trading at 125.85, down from yesterday’s close of 127.29.
The euro also plunged against the Australian and Canadian dollars. At present, the euro is trading at a new record low of 1.4516 against the aussie and a new multi-year low of 1.3421 against the loonie, compared to yesterday’s close of 1.4636 and 1.3513, respectively.
The Aussie jumped today as the Reserve Bank of Australia lifted interest rates by 25 basis points to 4.25 percent.
But the euro bounced between 1.909 and 1.915 against the New Zealand dollar in today’s early deals. Currently, the euro-kiwi pair is worth 1.9134, compared to yesterday’s close of 1.9185.
Looking ahead, the U.K. construction PMI for March, Bank of England’s housing equity withdrawl report for the fourth quarter and the Euro-zone sentix investor confidence report for April have been slated for release at 4:30 am ET
The U.S. Federal Reserve is scheduled to release the minutes of its March 16th meeting at 2 pm ET.
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