FX round-up: Euro slides against dollar amid Greek concerns
The euro fell against the dollar on Monday after US data came in mostly better than expected as Greek uncertainty continued to weigh on the single currency.
US economic figures during the session revealed that personal incomes rose 0.4% in February, pending home sales jump 12% year-on-year, while the core personal consumption expenditure index picked up to +1.4% from +1.3%.
Meanwhile, Greek talks with European creditors have continued as the time given to Athens to secure the €7bn bailout runs out.
IG analyst Alastair McCaig said: “The steady drip of economic figures from the US should put more pressure on the euro, with parity now on the horizon since the short squeeze is out of the way.
“Set against this backdrop, the continuing failure of Greece to put a meaningful plan together is of less importance, but it will still play a part in the ongoing bear market for the euro.”
The EUR/USD fell 0.42% to $1.0844 while the dollar index, which measures the US currency against a basket of six others, advanced 0.46% to $98.07.
The USD/JPY rose 0.29% to 130.09 while the GBP/USD increased 0.26% to 0.7331.