The euro fell to a three-week low against the dollar Tuesday on fears that Greece won't get enough investors to participate in a bond swap deal happening this week.
Greece needs to complete the debt restructuring to get its second package of bailout funds and avoid a default. Investors holding Greek debt will have to accept a lower value on their bonds and also lower returns.
A dozen big firms said Monday they would participate in the program, but traders are concerned that not enough firms will participate. The deadline to do so is Thursday.
The euro fell to $1.3110 in late trading Tuesday from $1.3224 late Monday. The euro fell as low as $1.3101 Tuesday, its lowest point against the dollar since Feb.16.
The dollar was mixed in other trading. The British pound fell to $1.5711 from $1.5867. The dollar rose to 0.9190 Swiss franc from 0.9118 Swiss franc and to 1.0021 Canadian dollar from 99.38 Canadian cents.
The dollar fell to 80.78 Japanese yen from 81.46 yen.
The U.S. currency also fell against the Australian and New Zealand dollar, but rose against the Norwegian krone, South Korean won and Brazilian real.
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