02 Dec '11, 11pm

Euro falls on skepticism over eurozone deal

NEW YORK: The euro slipped against the dollar on Friday as investors saw little prospect of a quick resolution to the eurozone fiscal crisis, even as a fresh meeting of the continent's leaders loomed. The euro fell to $1.3403 by 2230 GMT versus $1.3461 a day before, during a rocky day on the currency markets. "For the past month, we have been waiting with bated breath for a solution to the European sovereign debt crisis but the only thing that we have had are opposition and roadblocks at every corner," said Kathy Lien of Global Forex Trading. "What will most likely happen is that the ECB will buy everyone time by cutting interest rates again on Thursday," she added. "The underperformance of the euro today can be attributed to the expectations for easier monetary policy and disappointing results from the EU leaders summit." The summit is scheduled to begin on Thursday. On F...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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