FOREX-Euro falls to session low against the dollar

Published 11/16/2010, 10:52 AM
Updated 11/16/2010, 10:56 AM

NEW YORK, Nov 16 (Reuters) - The euro fell to a session low against the dollar on electronic trading platform EBS on Tuesday as investors grew increasingly risk-averse amid concern about fiscal problems in peripheral euro zone nations.

Greece will most probably miss its fiscal targets this year and next because it is moving too slowly to reform the economy and slash the bloated public sector, the country's biggest employers' group said on Tuesday.

The euro fell as low as $1.3545 on EBS, before recovering slightly to $1.3553. The move broke below the $1.3550 options barrier.

Sterling also fell to a session low against the dollar as Bank of England Governor Mervyn King said it was a concern that UK inflation was above target.

King said the central bank could do further quantitative easing if that turns out to be necessary."

Sterling fell as low as $1.5918, down 0.9 percent on the day. (Reporting by Nick Olivari; Editing by James Dalgleish)

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