Euro Falls Most Since January as Leaders Spar Over Greece Aid
By Ben Levisohn and Inyoung Hwang
March 20 (Bloomberg) -- The euro posted its biggest five- day pinch against the dollar since January as European Togetherness leaders sparred over financial succour to Greece before a summit meeting next week, damping desire for the currency.
The dollar and the yen rose against most crucial counterparts as India unexpectedly raised interest rates and commodities mow down, discouraging demand for assets linked to spread. The euro declined against most major currencies after German Chancellor Angela Merkel said on Step 17 the International Monetary Nest egg may be the only answer to Greece’s problems.
“Germany saying it wants the IMF knotty creates more uncertainty of what the commitment is to take precautions Greece support,” said Ronald Leven, a New York-based currency strategist at Morgan Stanley. “Greece getting a credible economic policy in place -- that’s what matters.”
