The euro fell to a four-month low against the dollar Tuesday after Greek leaders failed to form a new government and said a new election will be held next month.
Greek politicians have been in a political deadlock since voters gave support to anti-austerity parties in elections May 6. Traders are worried that if those parties win in June the country could drop out of the euro currency union, which could weaken the euro's credibility.
The euro fell to $1.2734 in late trading Tuesday from $1.2847 late Monday. The euro fell as low as $1.2724 earlier, its lowest point against the dollar since Jan. 18.
Traders also bought the U.S. currency on better news about the U.S. economy. Confidence among U.S. builders rose to a five-year high in May. And a survey of manufacturing activity in New York rose in May.
The dollar strengthened against most other currencies Tuesday. The British pound fell to $1.6003 from $1.6105. The dollar rose to 80.27 Japanese yen from 79.86 yen, to 0.9432 Swiss franc from 0.9351 Swiss franc and to 1.0047 Canadian dollar from 1.0027 Canadian dollar.
Good News: Paris Attack Suspect Might Be In Syria, U.S. Embassy In Kabul Warns Of 'Imminent Attack' | Matt Vespa
Obama "Confident in the Wisdom of the American People" to Elect a Democrat in 2016 | Townhall.com Staff
A Resurgence of Intolerance
Building a Pocket Blowout Kit - Bearing Arms - Blowout Kit, Emergency Medical Preparedness, IFAK
You won't believe what Pres. Obama just said in Paris on 'mass shootings'
New release of Hillary e-mails: 7800 pages, 328 classified — 999 total
Importing Terrorism and Other American Values | Human Events
The Most Surprising Thing About the Colorado Springs Shooting | RedState
Peter Morici - 2015 Paris Climate Conference: Another Bad Deal for America