//
Reuters reported the single currency fell 0.2 per cent on Wednesday (June 15th) to $1.4414, although it briefly dipped below its support of $1.4410.
The forex trading pattern is believed to have been caused by the failure of talks between private holders of Greek debt regarding how losses will be shared, which could also see certain French banks downgraded by Moody's.
Sterling also suffered on the day, slipping 0.2 per cent against the greenback amid reports that UK chancellor George Osborne will support ring-fencing of bank retail divisions.
Teppei Ino, currency analyst at Bank of Tokyo-Mitsubishi, told the news provider: "The problem is that the debate over the involvement of private investors in the rescue scheme drags on, making market participants jittery."
The situation was not helped by hedge fund bets on further drops in the currency.
Posted by Greg Secker
