The Associated Press May 25, 2012, 12:29PM ET

Euro falls below $1.25 on Greek fears

The euro fell below $1.25 for the first time in nearly two years on concerns that Europe won't be able to keep Greece in the single currency union.

The euro fell as low as $1.2495 in morning trading, its lowest level since July 2010. It was worth $1.2525 late Thursday.

Traders are concerns that Greece will have to leave the euro if parties opposed to the terms of the country's financial rescue win an election next month. Those parties were favored in early May, but Greek leaders were unable to form a new government.

In other trading, the British pound fell to $1.5649 from $1.5652. The dollar rose to 79.63 Japanese yen from 79.58 yen.

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