Euro down against dollar at $1.2274

The euro is down slightly against the dollar amid ongoing worries that the debt crisis in Europe will hurt growth in coming years.

The 16-nation common currency bought $1.2274 in early Wednesday trading, down from the $1.2315 it traded at in New York overnight.

The euro has dropped about 15 percent this year to 4-year lows over fears that eurozone countries will have trouble handling their debt and that austerity measures will weigh on their recovery.

A leading German survey showed Wednesday that such uncertainty is weighing on consumer confidence in Europe's largest economy.

Elsewhere, the British pound continued its slide to $1.4342 from $1.4366, while the dollar bought 90.06 Japanese yen, down again from 90.15 yen.