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Euro down to $1.3746 in European trade

FRANKFURT: The euro is slightly lower against the dollar though worries about Greece's debt problems have subsided recently, helping the common currency.

The 16-nation euro is buying $1.3746 in European morning trade Monday, down from $1.3757 late Friday in New York.

The British pound is lower at $1.5130 compared with $1.5179, while the dollar is higher at 90.66 Japanese yen from 90.51.

Greece said Friday it had exceeded its deficit-cutting targets in January and February while it has proposed higher taxes and spending cuts and sold bonds to get out of a debt crisis that has undermined the euro in recent weeks.

The euro moving to "a close above $1.3800 could well precipitate a move toward $1.40," Michael Hewson, an analyst at CMC Markets said.

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