Forex - Euro sinks to all-time low against Aussie

Forex Pros – The euro sank to an all-time low against the Australian dollar on Tuesday, in the wake of a dire warning by the Greek prime minister, George Papandreou, over his country's debt crisis. 

EUR/AUD plunged to 1.4936 during European morning trade, its lowest rate since the inception of the euro zone currency in January 1999. The pair subsequently consolidated around 1.4964, shedding 0.19%. 

The pair was likely to find resistance at 1.5202, Thursday's high, and support at 1.4936. 

The euro also plunged against the yen and dollar, with EUR/USD dropping 0.46% to hit 1.3572 and EUR/JPY tumbling 1.06% to reach 121.83. 

On Monday, Papandreou said that if the turmoil over Greece's gaping budget deficit “metastasizes” it “could create a new global financial crisis with implications as grave as the U.S.-originated crisis two years ago.” 

Meanwhile, ahead of a meeting Tuesday in Washington with U.S. President Barack Obama, the Greek premier warned that the United States cannot afford to ignore the financial woes of his country and, by extension, Europe, the Washington Post reported.