Euro falls below $1.30 for first time since January

Cashier counting euro notes The euro has fallen against the dollar in 2011 The euro has fallen further against the dollar as concerns continue over the future of the eurozone. The euro fell below $1.30 for the first time since 12 January. Against the pound, one euro bought 83.85 pence, while the pound was worth 1.19 euros. Last week, 26 of the 27 members of the European Union backed new fiscal rules, with only the UK abstaining. But many fear that the budget pact will still not be enough to prevent more countries from seeking a bailout. European stock markets were in negative territory on Wednesday. London's FTSE 100 and Frankfurt's Dax were both down about 1% by lunchtime, with the Paris Cac 40 index trading 1.76% lower.