"It just adds to this miasma surrounding Europe that keeps pressure on the euro and keeps things going down," says Andrew Busch, global currency and public policy strategist at BMO Capital Markets.
Trading patterns aren't helping the common currency either.
"People are building offers or short positions up towards 1.2800 the figure," says Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank. She told CNBC's Melissa Lee that investors for now seem happy to play the currency's trading range. "In order to catapult higher through those offers, you're going to need to see some pretty positive and substantial news come out," and she thinks that's unlikely for now.