Euro falls on worries about Cyprus

Euro falls against dollar on worries about Cyprus

Associated Press

NEW YORK (AP) -- The euro is falling against the dollar on concerns about the bailout for Cyprus.

The euro fell to $1.2846 in afternoon trading from $1.2862 late Monday.

Details about the bailout for the bailout have not been decided yet. It's not clear how much money will be taken from depositors with over 100,000 euros in the nation's banks.

Cyprus says it's keeping its banks closed until Thursday, after initially saying they would reopen on Tuesday. Banks have been closed for more than a week to avoid big withdrawals.

In the U.S., The Conference Board says that its Consumer Confidence Index fell in March.

The British pound fell to $1.5152 from $1.5182.

The dollar rose to 94.32 Japanese yen from 94.04 yen.

View Comments (4)