NEW YORK (AP) -- The euro is falling against the dollar as investors await a vote in Cyprus on its highly unpopular bailout plan.
The euro fell to $1.29 in midday trading from $1.2948 late Monday.
Part of the plan is to take up to 10 percent of people's saving from banks in the small Mediterranean island nation. Investors are worried that savers will start taking their money out of banks across Europe, just like Cyprus residents did over the weekend when the plan was revealed.
A vote in favor of raiding a portion of bank accounts is needed in order for Cyprus to get $12.9 billion in rescue loans.
The British pound rose to $1.5123 from $1.5099.
The dollar fell to 94.88 Japanese yen from 95.42 Japanese yen.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Can You Really Make Money Mining Bitcoins?
Profits are not easy to come by. Expensive hardware and risky cloud mining deals are the main challenges.
3 Things to Watch in the Stock Market This Week
Look for Netflix, P&G, and Starbucks to make big moves over the next few trading days.
E-Commerce Stocks Crushed It in 2017. Will 2018 Be a Repeat?
Here's why the rally among online retailers could continue to reward investors this year.