Investing.com - The euro was broadly lower against its global counterparts on Thursday, as uncertainty over a second bailout for Greece and the threat of further downgrades across the European banking sector saw investors shun the single currency.
During European late morning trade, the euro was down against the U.S. dollar, with EUR/USD shedding 0.46% to hit 1.3006.
A teleconference of euro zone finance ministers on Wednesday failed to reach a decision on Greece's new bailout and private-debt restructuring issues.
Following the talks, Eurogroup President Jean Claude Juncker said he was confident that finance ministers will make a final decision at a meeting in Brussels on Monday.
European Union officials are believed to be looking at delaying all or part of Greece's bailout until after a general election in the country, which is expected to take place in April.
Officials are examining the possibility of extending a bridging loan to Athens, which would allow Greece to meet EUR14.4 billion in repayments which come due on March 20, avoiding a default.
Risk appetite was also hit after ratings agency Moody's warned that it may cut the credit ratings of 114 banks in 16 countries across Europe, citing banks' vulnerability to the sovereign debt crisis in the euro zone.
The euro was also lower against the pound, with EUR/GBP sliding 0.38% to hit 0.8294.
The pound remained supported after the Bank of England’s quarterly inflation report on Tuesday revised up the bank’s two-year inflation forecast, dampening expectations for more quantitative easing measures.
Earlier Thursday, a report by lender Nationwide showed British consumer confidence climbed to its highest level in five months in January as people's view of the outlook six months ahead grew more upbeat.
The single currency was almost unchanged against the yen and the Swiss franc, with EUR/JPY dipping 0.02% to hit 102.46 and EUR/CHF inching up 0.01% to hit 1.2068.
Elsewhere, the euro continued to struggle close to recent record lows against the Australian and New Zealand dollars, with EUR/AUD slipping 0.18% to hit 1.2192 and EUR/NZD adding 0.40% to hit 1.5744.
Earlier in the day, official data showed that the Australian economy added 46,300 jobs in January, beating expectations for a 10,500 increase while the unemployment rate unexpectedly ticked down to 5.1%.
The euro slid lower against the Canadian dollar, with EUR/CAD losing 0.09% to hit 1.3052.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as reports on producer price inflation and unemployment claims. In addition, Federal Reserve Chairman Ben Bernanke was due to speak.
During European late morning trade, the euro was down against the U.S. dollar, with EUR/USD shedding 0.46% to hit 1.3006.
A teleconference of euro zone finance ministers on Wednesday failed to reach a decision on Greece's new bailout and private-debt restructuring issues.
Following the talks, Eurogroup President Jean Claude Juncker said he was confident that finance ministers will make a final decision at a meeting in Brussels on Monday.
European Union officials are believed to be looking at delaying all or part of Greece's bailout until after a general election in the country, which is expected to take place in April.
Officials are examining the possibility of extending a bridging loan to Athens, which would allow Greece to meet EUR14.4 billion in repayments which come due on March 20, avoiding a default.
Risk appetite was also hit after ratings agency Moody's warned that it may cut the credit ratings of 114 banks in 16 countries across Europe, citing banks' vulnerability to the sovereign debt crisis in the euro zone.
The euro was also lower against the pound, with EUR/GBP sliding 0.38% to hit 0.8294.
The pound remained supported after the Bank of England’s quarterly inflation report on Tuesday revised up the bank’s two-year inflation forecast, dampening expectations for more quantitative easing measures.
Earlier Thursday, a report by lender Nationwide showed British consumer confidence climbed to its highest level in five months in January as people's view of the outlook six months ahead grew more upbeat.
The single currency was almost unchanged against the yen and the Swiss franc, with EUR/JPY dipping 0.02% to hit 102.46 and EUR/CHF inching up 0.01% to hit 1.2068.
Elsewhere, the euro continued to struggle close to recent record lows against the Australian and New Zealand dollars, with EUR/AUD slipping 0.18% to hit 1.2192 and EUR/NZD adding 0.40% to hit 1.5744.
Earlier in the day, official data showed that the Australian economy added 46,300 jobs in January, beating expectations for a 10,500 increase while the unemployment rate unexpectedly ticked down to 5.1%.
The euro slid lower against the Canadian dollar, with EUR/CAD losing 0.09% to hit 1.3052.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as reports on producer price inflation and unemployment claims. In addition, Federal Reserve Chairman Ben Bernanke was due to speak.