The euro is creeping lower against the dollar in recent trade. The move comes as German central bank head and ECB member Weidmann says he is "surely not alone" in doubting an ECB plan to purchase sovereign debt. Traders have driven the euro sharply higher against other major currencies in recent weeks, partly on the hope that the ECB's new bond-buying program puts a backstop on the region's ongoing debt crisis. Weidmann's criticism, though unsurprising, throws some cold water on the whole plan, especially if more ECB members decide to back away from the plan. The euro is at $1.2927 in Tuesday afternoon trading in New York, down from $1.2931 late Monday, according to EBS via CQG.
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