Euro dips amid EU worries

Worries over the strength of the European Union (EU) have caused the euro to hit a record low against the Swiss franc today (March 24th).

Reuters reports European currency fell to €1.4232 (€1.4232) against its Swiss counterpart, while Bloomberg put the amount fractionally higher on €1.4233.

The decline came after France and Germany said they want to involve the International Monetary Fund with the planned bailout of Greece.

As a result, investors - such as those who are using their personal wealth to operate in the currency markets - have been looking to sell off the euro, Tsutomu Soma of Okasan Securities in Tokyo told Bloomberg.

He added the move ’casts some doubt over the strength of the [EU]’.

Earlier in the week, the dollar was up amid new worries regarding the fiscal stability of Greece but these gains were since erased.

This boosted the attractiveness of gold as an alternative investment, Bloomberg reported.ADNFCR-2318-ID-19686447-ADNFCR