The euro fell against other major currencies in Asia on Tuesday as investors shunned risk amid concerns over eurozone debts and speculation that China may raise interest rates soon, dealers said. The euro was changing hands at 1.3294 dollars, down from 1.3304 dollars in New York late Monday. It fell to 109.36 yen from 109.96 yen. The dollar edged down to 82.47 yen from 82.67 yen. Euro finance ministers who met in Brussels on Monday see no need for 'immediate action' to increase a trillion-dollar EU-IMF fund for countries in trouble, the head of the Eurogroup Jean-Claude Juncker said. His comments come amid mounting fears that the debt crisis that last month claimed Ireland as its latest victim now threatens to spread amid fears for Portugal and Spain. Juncker added that ministers concluded that the 'priority now' was for states to accelerate budgetary consolidation. State-run China Securities Journal reported Tuesday the Chinese central bank may raise interest rates around this weekend, causing short-term investors to trim holdings of risk sensitive currencies, said Hideaki Inoue, senior dealer at Mitsubishi UFJ Trust and Banking. 'This is moving the market in the absence of other major news, but to a large extent I think any such hike has already been priced in,' Inoue told Dow Jones Newswires said. While the report in the journal may not reflect official views in Beijing, traders noted that China has a history of announcing tightening measures in off- market hours. 