€/$ The euro maintained its downward spiral against the US dollar yesterday, losing a further half cent to close some way below 1.40

• The euro fell to the lowest level in more than six months against the dollar on concern Greece's fiscal problems will spread, damping demand for European assets.
  
  
• Greek Prime Minister George Papandreou has said the country does not need to borrow from European nations. However, investors are beginning to doubt the nation can reduce the biggest budget shortfall in the European Union without assistance from outside.
  
  
• In the US, data revealed the number of people claiming jobless benefit fell last week, though was still higher than the market expected, which saw the dollar par its gains.
  
  
• In trading this morning the pair is holding around the overnight closing price. Investors are awaiting a report, which may show the euro-zone's unemployment rate has reached an 11-year high.
  
  
• US GDP figures in the afternoon could also move the markets, with the economy expected to have risen at an annualized rate of 4.5% in the 4th quarter of 2009.