The single currency hit a new 4-month low against the dollar as Cyprus bailout implications are still unclear. Investors worry that the rescue package terms for Cyprus will set a precedent and ultimately become a blueprint for future bailouts. Cyprus is expected to finalise capital control actions on Wednesday following the country’s acceptance of the bailout conditions. During trading hours in Europe, the fell to $1.28175. German bonds were high due to the uncertainty surrounding the details of the Cypriot bailout. Investors have shown great dubiousness over the eurozone’s future and it’s unlikely that we will see massive euro rallies in the near future.