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The euro fell away from the three-week high against the dollar it reached earlier in the week, dropping by 0.05 per cent to $1.3022, reports Reuters.
It remains well away from the trough it fell into on January 13th, when the 17-nation currency hit $1.2624 affected by worries over the sovereign debt crisis in Europe.
Although some concern was caused this morning by the decision to reject an offer from private creditors to help restructure Greek debt, it is expected a positive conclusion will be reached eventually.
"I think a deal will eventually be reached on Greece and for euro/dollar this has largely been priced in," Lauren Rosborough, senior currency strategist at Societe Generale, told the news provider.
Yesterday uncertainty over how Greek debt was to be dealt with left the pan-European FTSEurofirst 300 index flat, Reuters noted.
Posted by Clive Arneil
