Sunday, March 4, 2012

Euro falls as Greece moves back in spotlight

(Reuters) - The euro ended a roller coaster week sharply lower and may come under further selling pressure as Greece's bailout moves back into focus, and as the European Central Bank chimes in on monetary policy next week.

The euro dropped against the dollar for a third straight day on Friday and was on track for its worst week since mid-December after debt-burdened Spain challenged the European Union's new fiscal pact.

Spain, the euro zone's fourth-largest economy, set a softer 2012 deficit target than originally agreed to under the euro zone's austerity drive.

Earlier in the global session, the euro was pressured by a surprise slide in retail sales in Germany, the euro zone's largest economy. Read More