Euro Falls As Greek Fiscal Deficit Revised Higher (ULE)

Euro fell in trading today as news surfaced that Greece had an even bigger budget deficit for 2009 than previously thought. The debt-laden country’s revised deficit stands at 13.6% of GDP, up from previous estimate of 12.7% of GDP, according to Eurostat. Earlier on Wednesday, Greece began discussions with the IMF and European officials on a potential rescue package for the country. Following the news the euro fell 0.1% to 1.3363 against the U.S. dollar. Meanwhile, the ProShares Ultra Euro (ETF) (NYSE: ULE) had closed 0.75% lower at $26.23 in trading on Wednesday.