Increasing doubts about the Greek debt deal finalized on Monday night pulled down the common currency of the European Union on Wednesday against the U.S. dollar, according to Reuters.
The 17-nation currency also slipped against the Japanese yen as the possibility of the central bank of Japan intervening again grew less likely. But the Monday night pact finalized after about 12 hours of meetings in Brussels has fallen into question as to whether it really will help the debt-hobbled Aegean nation.
"If they go well, the relief on peripheral assets may have legs, including the euro. If it goes bad, even France may get questioned by an uncertain market, and we would expect the euro to suffer," states a note penned by Barclays strategists, according to Reuters.
The Monday evening meeting marked the third of its type in three weeks and resulted in finance ministers from the euro zone nations agreeing on a new debt target for Greece.
Anticipations are high for the Thursday ruling of a European court regarding whether the European Central Bank should be forced to release files about how Greece used derivatives to hide its financial obligations, according to Bloomberg.
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