Euro lowest since 2006 on worries over Greece exit, ECB plans

New York

THE EURO weakened to an almost nine-year low versus the dollar amid investor concern Greece might leave the currency union and on speculation the European Central Bank has moved closer to large-scale sovereign-bond purchases.

A gauge of the dollar reached the strongest in nine years with the Federal Reserve moving towards raising interest rates. The yen rose to an eight-week high against the euro as a slide in Asian stocks boosted demand for haven assets. Russia's ruble tumbled as oil fell. The pound fell a second day. Volatility jumped to the highest in more than a year.

"It's probable that the euro will go on sinking," Stephen Lewis, chief economist at ADM Investor Services International, said by phone from London. "There are very few fundamental factors in its favour. Lurking in the backgro…