Euro under pressure

The euro fell in Asian trade Wednesday, hit by stronger-than-expected US economic data and worries about problems in the European banking sector, dealers said.
The European currency dropped to 1.4527 dollars in Tokyo morning trade from 1.4534 in New York late Tuesday, when it had hit a two-and-a-half month low of 1.4506.
The euro eased to 130.18 yen from 130.33. The dollar fell to 89.61 yen from 89.67.
The dollar was supported by US data showing a spike in producer prices and higher-than-expected industrial output.

The figures sparked speculation that the Federal Reserve may raise interest rates earlier than previously expected.
"Investors were concerned that if data continues to beat expectations on the growth and price fronts, the Fed will change its tack," said Dariusz Kowalczyk, chief investment strategist at SJS Markets in Hong Kong.
"They are increasingly expecting a rate hike as early as in June. Still, we do not see the Fed hiking until 2011."
The US central bank was due to wrap up a two-day monetary policy meeting later Wednesday.
The euro, which until last week had been bought by investors looking to make risky bets on the back of growing optimism for a global economic rebound, was also hit by worries about Europe's banking sector.
Austrian newspaper Die Presse said regulators have placed the nation's fourth biggest bank, Oesterreichische Volksbanken, on a watchlist but this was later denied by the company.
The Austrian government in a surprise move Monday nationalised Hypo Group Alpe Adria, the country's sixth largest bank, in an effort to avert its collapse.