Impacting the performance of the embattled monetary unit was the Brussels meeting of euro zone ministers where Spain was permitted one more year to make a push toward targets for deficit reductions. They also established standards for an aid package to assist debt-hobbled Spanish banks.
"I think we have a long way to go before we reach the stage at which policymakers will be ready to act, particularly as it relates to potential bond purchases in the secondary market," currency strategist Todd Elmer with Citi in Singapore told Reuters.
Spanish bond yields have scaled higher than the 7 percent rate at which fellow euro zone nations Ireland, Portugal and Greece sought bailout aid.
Also impacting the shared currency are reductions to industrial production in France, which drew down the euro against the Japanese yen, Bloomberg reports. Chinese export and import growth slowed down in China, also tugging on the euro.
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