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The euro was down 0.1 per cent from late New York trade on Monday, falling to 0.823837EUR=, reports Reuters.
Downgrading of Greece's credit rating may have had an impact on the currency's fortunes. Some traders have suggested investors took the chance to improve their position in the monetary union, reveals the news agency.
Matthew Strauss, senior currency strategist at RBC Capital, argued the strong reaction to the country's re-evaluation shows Forex trader confidence in the euro is fragile.
Some observers take a more positive view, suggesting renewed appetite for risk should mitigate damage to the value of the single currency.
In Britain, smaller-than-expected inflation increase last month meant sterling made losses against the dollar and the euro.
Reuters notes the fall may ease policymaker's concerns about inflation.
Posted by Greg Secker
