- The euro fell against the dollar and hit a record low versus the Swiss franc on Monday, with more losses likely as markets were hit by fears of further ratings downgrades of debt-stricken euro zone countries and banks. The euro broke below its 200-day moving average around $1.3102, usually a bearish signal. The next downside target is $1.30, followed by the December low of $1.2970, traders said.
The euro slipped 0.5 percent to $1.3116, having dropped as low as $1.3094 on trading platform EBS, its lowest since December 2. The euro also fell below its 200-day moving average against the dollar in late November, but it climbed back above it shortly thereafter.
The euro fell to 1.2636 Swiss francs on EBS, its weakest since the euro's launch in 1999, with the Swiss currency benefiting from its safe-haven status. The euro also hit a record low against the Australian dollar. Against the yen, the dollar eased 0.3 percent to 83.75, weighed by Japanese corporate selling and as US bond yields fell.
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