Euro drops below $1.30 for first time since Jan

December 14, 2011 - 8:20 AM

LONDON (AP) — The euro has fallen below $1.30 for the first time since Jan. 12 amid ongoing concerns that last week's summit of EU leaders has not gone far enough in fixing the currency.

Europe's single currency, which is used by 17 nations, has managed to hold its own for much of this year despite rising concerns over the level of government debt in a number of countries.

However, a deal last week to get the economies of the eurozone countries more aligned has met with skepticism in the markets.