Greece pushes euro to 9-month low against dollar

The euro has dropped to its lowest level against the dollar, thanks largely to ongoing uncertainty over the state of the Greek economy, the latest foreign currency exchange rates show.

Coming soon after the largest public sector workers' union in Greece hinted that it may be going ahead with plans for a nationwide strike, the latest data published by Reuters shows that the euro fell as low as $1.3435.

This represents the lowest level against the US dollar for almost ten months, with the uncertainty surrounding the Greek economy set to continue as the government there has been called upon to make further reductions to the national €300 million debt by the European Union.

"I want to encourage the Greek authorities to consider and announce additional measures in the coming days," EU monetary affairs commissioner Olli Rehn stated at the start of this week.

In addition, ongoing unrest over planned salary and pension cuts is also being felt in foreign currency exchange rates.

Posted by Sarah Pitton

Click here to see how much you can save with HiFX's Foreign Exchange services (www.hifx.co.uk/online)