Euro falls against dollar on Italy fears

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Associated Press

Posted on February 28, 2013 at 2:00 PM

Updated Thursday, Feb 28 at 2:02 PM

NEW YORK (AP) — The euro is weakening against the dollar as traders worry that Italy's political crisis will hurt efforts to resolve the country's fiscal problems.

The euro fell to $1.3079 in afternoon trading Thursday from $1.3129 late Wednesday.

The euro is down about 1 percent against the dollar since Italy's inconclusive election over the weekend. There's a possibility that the country will need to vote again, which could reignite Europe's debt crisis.

The British pound rose to $1.5184 from $1.5153.

The dollar rose to 92.34 Japanese yen from 92.28 Japanese yen and to 0.9332 Swiss franc from 0.9310 Swiss franc.

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