The euro touched a three-month low earlier today before recovering slightly, but don't get too comfortable.
"It's going to go a bit lower," said Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank.
When Germany announced this morning at the European Union summit that it is going to balance its budget sooner than planned, it wasn't entirely surprising, Bourdeau said. Germany's commitment to austerity is well known.
But other countries like France and Spain "are really hurting on the austerity front," she said, and they would prefer discussion of more stimulus and less austerity.