Wednesday, 09 May 2012 02:57
NEW YORK: The euro fell heavily against the dollar on Tuesday, as the ripples from weekend elections in France and Greece continued to rock the confidence in the eurozone.
The euro fell to $1.3006, down 0.6 percent versus Monday, and close to a symbolic threshold of $1.30 rarely breeched in the throes the debt crisis.
"Investor sentiment remained broadly bearish... after the weekend elections put Francois Hollande into the French presidency and left no clear government in Greece," strategist David Morrison told FX360.com.
"Concerns about Greece worsened after the leftist party leader Alexis Tsipras said any potential coalition partners must agree to revoke the recent EU-IMF-ECB bailout deal."
The Australian dollar also slumped against the greenback, falling 0.7 percent to $1.0121.
The dollar edged down 0.02 yen to 79.84, while it rose a fraction of a percent against the British pound which fetched $1.6159.
The dollar rose 0.6 percent against the Swiss franc to 0.9236.
Copyright AFP ...