The euro has fallen against the dollar as markets opened a day after the European ministers agreement of a bail-out for the Irish Republic.

On Sunday, ministers reached agreement over a bail-out worth about 85bn euros ($113bn; £72bn).

The euro fell 0.8% to $1.3136 on monday, one day after the aid package figures were finalised.The rate represents its lowest since September 21.

Irish, Spanish and Portuguese bond yields remained high, suggesting that the the market is not convinced European debt problems have gone away.

Meanwhile, major European markets were also lower in midday trade.