BUSINESS

EUR down

The euro fell on Wednesday, as investors including hedge funds cut bullish bets on mounting worries over Greece’s finances, with many traders expecting the single currency to test key support levels on charts, Mediafax informs, quoting Reuters. Speculative selling of the euro intensified as rumours swirled about Greece, with a drop in U.S. stock index futures ESc1 SPc1 and oil LCOc1 also adding to pressure on high-yielding currencies like the Australian dollar. Traders cited market talk that Greece may call a snap election, as well as a rumour that Greek Prime Minister George Papandreou may resign, as factors that dragged the euro lower.

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