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The common currency remained fairly stable at $1.2715 this morning after dipping to $1.2662, its weakest point since September 2010, reports Bloomberg.
It moved to 97.85 versus the yen, a small rise from yesterday's 97.67.
The 17-nation currency is also being affected by concerns the European Central Bank (ECB) will not move to stimulate growth in the eurozone economy during its meeting today.
Matthew Brady, executive director for foreign exchange at JPMorgan Chase, said debt contagion remained the dominant issue in the region.
"There's the ECB, as well as the Spanish and Italian auctions today, so it should be interesting to see whether there's demand," he told the news provider.
Stocks fell back in Germany yesterday after reports the country's economy had contracted in the last quarter of 2011 spooked investors, noted Bloomberg.
Posted by Greg Secker
