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FOREX-Euro zeros in on 2012 low as Greek exit fears grip markets

Reuters – May 16, 2012
* Euro barely above 4-mth low, still vulnerable * Greek banks face funding needs, put more pressure on euro By Antoni Slodkowski
TOKYO, May 17 (Reuters) – The euro wallowed near a four-month trough versus the dollar on Thursday after some banks in Athens faced emergency funding needs, compounding fears that a potential Greek exit from the euro could put more pressure on other struggling euro zone nations.

The common currency fetched $1.2730, up 0.1 percent on the day, but still within shouting distance of its four-month low at 1.2681 plumbed the day before. It has already shed 4.1 percent in May, coming close to its 2012 trough of 1.2624.

 

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