Cyprus uncertainty sees euro drop
The euro has continued to drop amid concerns over Cyprus.
Concerns over the ongoing talks about a bailout for Cyprus have led to the euro falling again.
The single currency edged down again for the second session in a row as investors awaited the result of a vote on the controversial measures.
Joe Manimbo, senior market strategist at Western Union Business Solutions in Washington, explained the impact of a bailout could be major.
"The uncertain outlook for Cyprus carries potential negative knock-on effects for other eurozone nations which should keep near-term pressure on the single currency," he told Reuters.
But Sebastien Galy, currency strategist at Societe Generale in New York, stated it is a good sign the euro has not fallen even further.
The single currency was recorded as having slipped 0.1 per cent against the dollar to $1.294 this afternoon (March 19th).
Today also saw the Stoxx 50 drop by almost one per cent, though it remains up by 1.67 per cent on the start of the year.
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