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It fell 0.3 per on the day against the dollar to $1.4460 as potential investors displayed worries about the south European country's debt crisis, reports Reuters.
The single currency also declined against the yen, dropping to 115.73 yen, taking it close to its lowest level in recent times of 115.50 yen, recorded on May 30th.
Adam Myers, fx trading strategist at Credit Agricole, said eurozone rate expectations for the first quarter of 2012 have now slumped "quite sharply" against the US.
He added: "The deteriorating growth outlook has taken precedence in investors' minds, rather than [that] there will [be] a rate hike in July."
Mr Myers' comments follow a report from Bloomberg in which two sources revealed the International Monetary Fund and European governments could lend as much as an additional €45 billion to Greece.
The country's financing gap for 2012-14 is estimated to be up to €170 billion.
Posted by Greg Secker
