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Euro falls ahead of Greek IMF repayment deadline
The euro was broadly lower on Tuesday as investors braced for the near certainty that Greece will default on a loan from the International Monetary Fund, while the U.S. dollar benefited from month- and quarter-end buying. The euro was last down 0.8 percent against the dollar at $1.11475. Month- and quarter-end flows, which stem from global fund managers and investors' rebalancing their currency exposure based on stock and bond market movements over the given period, also boosted the dollar. ADVERTISING "There was heavy euro selling, heavy dollar buying at end-of-quarter, end-of-month," said Douglas Borthwick, ... (full story)
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