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Updated Wednesday, March 10, 2010 11:11 am TWN, AFP

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Euro slips with all eyes on Greece

LONDON/TOKYO -- The euro fell against the dollar in European deals on Tuesday as investors awaited fresh details on Greece's plans to resolve the nation's debt crisis, analysts said.

In morning deals here, the European single currency slid to 1.3592 dollars from 1.3631 dollars late in New York on Monday.

Against the Japanese currency, the dollar sank to 89.76 yen from 90.27 yen on Monday.

In London on Tuesday, the euro was changing hands at 1.3592 dollars against 1.3631 dollars on Monday, at 122.06 yen (123.07), 0.9080 pounds (0.9047) and 1.4626 Swiss francs (1.4629).

The dollar stood at 89.76 yen (90.27) and 1.0762 Swiss francs (1.0728).

The pound was at 1.4969 dollars (1.5062).

Against regional Asian currencies, the dollar rose to 1,134.67 South Korean won from 1,133.20 on Monday, to 1.4008 Singapore dollars from 1.3992 and to 32.73 Thai baht from 32.67. It also gained to 9,198 Indonesian rupiah from 9,192, but fell to 31.85 Taiwan dollars from 31.87 and to 45.75 Philippine pesos from 45.93.

Persistent uncertainty over Greece's debt crisis weighed on European currencies as investors waited for specific measures on tackling the eurozone member's public deficit woes, dealers said.

Traders were cautious before talks between Greek Prime Minister George Papandreou and U.S. President Barack Obama, after the Greek leader raised concerns that speculators were undermining efforts to overcome a debt crisis.

Papandreou urged the United States to crack down on currency speculators amid reports that some U.S. funds have placed big bearish bets against the euro.

Meanwhile, investors were also eyeing upcoming events in Asia, including three central bank meetings and Chinese inflation data due this week.

Although the central banks of South Korea, the Philippines and Thailand will probably leave their interest rates unchanged, analysts said they may withdraw some of their stimulus measures as regional growth picks up.

The prospect of eventual interest rate rises in those countries is likely to support their currencies against the lower-yielding dollar and the yen, dealers said.

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