Pessimistic Germans add to euro’s weakness

HAVING hit a nine-month low on Monday against the dollar, the euro fell further to $1.2041 yesterday despite earlier gains.

The dollar initially weakened against the euro, but regained strength during the day.

Earlier in the day, the dollar dipped against the euro, boosted by remarks from the Greek Central Bank whose governor dismissed the need for the European Central Bank to cut interest rates. As a result, the euro rose to $1.2129 in early European trading, up from $1.2111 in overnight trading in New York.