NEW YORK, March 26 The euro erased marginal
gains versus the U.S. dollar on Tuesday to trade flat after news
on Italy and Cyprus news emerged.
An official in Italy's center-right party said there are
still wide differences with the center-left, which if not
resolved will mean that Italy will have to go back to the
Also on Tuesday, Cyprus's finance minister, Michael Sarris,
said that an exit from the European single currency was not
being contemplated and would be disastrous for the island
Trade was extremely choppy during the North American
session, with the single currency swinging from minor losses to
flat to minor gains numerous times.
The euro last traded at $1.2848, nearly flat on the
day. It was trading at around $1.2858 before the news, according
to Reuters data.