Euro sinks to 4-month low vs dollar on Greek fears
NEW YORK, MAY 15 (AP/UNB) - The euro fell to a four-month low against the dollar after Greek leaders failed to form a new government and said a new election will be held next month.
Greek politicians have been in a political deadlock since voters gave support to anti-austerity parties in elections May 6. Traders are worried that if those parties win in June the country could drop out of the euro currency union, which could weaken the euro's credibility.
The euro fell to $1.2769 in Tuesday afternoon trading from $1.2847 late Monday. The euro fell as low as $1.2752 earlier, its lowest point against the dollar since Jan. 18.
In other trading Monday, the British pound fell to $1.6021 from $1.6105. The dollar rose to 80.15 Japanese yen from 79.86 yen.
Greek politicians have been in a political deadlock since voters gave support to anti-austerity parties in elections May 6. Traders are worried that if those parties win in June the country could drop out of the euro currency union, which could weaken the euro's credibility.
The euro fell to $1.2769 in Tuesday afternoon trading from $1.2847 late Monday. The euro fell as low as $1.2752 earlier, its lowest point against the dollar since Jan. 18.
In other trading Monday, the British pound fell to $1.6021 from $1.6105. The dollar rose to 80.15 Japanese yen from 79.86 yen.
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