Euro continues to struggle as debt concerns remain in the spotlight. The ratings agency Fitch has issued a warning that downgrades are possible for the AAA nations in the currency region. Additionally, Nouriel Roubini is calling for lower taxes and higher salaries to stimulate the economy in Europe. Right now, eurozone leaders look unable to handle the crisis, and that is weighing on the euro.
The euro is the currency used by institutions of the European Union and 17 of 27 nations of the Union, which is collectively called the eurozone. The currency is also often used in some other countries, including those that are situated near the borders of the eurozone. The currency was officially adopted in 1995, introduced in financial markets in 1999, while coins and banknotes were released in 2001. It is the second popular reserve currency after the US dollar.
Euro News Archive
June 12th, 2012 at 14:27
June 11th, 2012 at 9:32
The euro jumped sharply at the beginning of today’s trading session as Spain is going to receive a rescue from the European Union. The currency weakened after the initial rally, but remained far above the Friday’s close.
June 08th, 2012 at 13:57
Euro is falling once again, thanks to concerns with global growth. Economic weakness in the eurozone, as well as another downgrade for Spain, are weighing on the euro. It’s not helping, either, that growth in the rest of the world is rather toned down as well.
June 07th, 2012 at 10:59
The euro gained today against the Japanese yen on positive results of a French debt auction and signs that the European Central Bank may take actions to battle the financial crisis. The currency was down against the US dollar.
June 06th, 2012 at 11:44
Euro is heading higher today as optimism about what eurozone leaders will do to ease the crisis rises. There are hopes that Spain’s situation will prompt action from leaders. The optimism is helping global markets rally, and providing a boost for the euro.
June 04th, 2012 at 13:44
The rebounded today, posting the second day of gains, but sustainability of the rally is highly questionable. Earlier, the currency declined as European leaders struggled to find a solution for the debt problems of the European Union.
June 01st, 2012 at 12:54
Spain’s banking sector is driving the euro lower as Forex traders worry about the pressure being put on the 17-nation currency. Spaniards are sending money abroad, creating a bank run, and that is only making things worse for the financial sector. It’s not helping that there are still uncertainties over Greece, and in The Netherlands an anti-euro party is campaigning hard ahead of fall elections.
May 30th, 2012 at 13:18
Today, Spain’s woes are in focus, and that is sending the euro lower. EUR/USD is below the 1.2500 mark, and possibly heading even lower, thanks to concerns about Spain, as well as uncertainty about Greece and uncertainty about how the Irish will vote tomorrow when it comes to the European Union’s fiscal treaty.
May 29th, 2012 at 10:25
The euro extended its decline today amid mounting concerns about the sovereign-debt crisis in Europe and the ability of the eurozone to keep its integrity, caused by uncertainty about the June elections in Greece and signs that the crisis is spreading.
May 26th, 2012 at 18:07
This week, the euro had its biggest weekly loss against the dollar this year as the currency was rapidly losing attractiveness amid the escalating sovereign-debt crisis. Forex market participants were running away from the currency, making it touch the lowest level since 2010 versus the greenback.