Euro is floundering today as concerns about what’s next continue to plague the 17-nation currency region. Once again, the 17-nation currency is below the 1.21 level against the US dollar, and it continues to drop against the UK pound.
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
July 24th, 2012 at 14:50
July 23rd, 2012 at 13:25
It’s been two years since the euro has hit levels seen today. Concerns about the need for a major Spanish bailout are on the rise, and that is dragging down the euro. Spain would be the fourth eurozone country to ask for a major bailout — an indication that the sovereign debt crisis is still not under control.
July 19th, 2012 at 16:49
Euro continues to struggle today, with Spanish borrowing costs causing one of the issues, and underscoring the fact that eurozone leaders seem unable (or unwilling) to take the steps necessary to truly ending the crisis and integrating the eurozone countries into a more unified financial bloc.
July 13th, 2012 at 14:34
Euro slumped to a two-year low against the US dollar earlier today, starting off with a rather dramatic loss. However, things have begun looking up, at least a little, and the euro is heading higher.
July 12th, 2012 at 14:28
The euro is dropping today — a rapid drop against the US dollar. Euro is losing ground on concerns about what’s next for the eurozone, but there are also concerns about how China’s slowing growth, as well as the lack of growth in reserves, are affecting the 17-nation currency.
July 11th, 2012 at 13:27
Euro is receiving a bit of a boost right now, inching higher as risk appetite attempts an appearance. However, the feeble gains this morning aren’t expected to last too long. Already, rumors that the euro might really be on its last legs are circulating as Germany balks at approving the latest incarnation of the European Stability Mechanism.
July 10th, 2012 at 14:35
A Spanish bailout has been agreed to, with eurozone leaders providing 30 billion euros by the end of July. On top of that Spain has until 2014 to meet its deficit reduction target. The news, while it has helped bolster stocks, hasn’t given the euro much of a boost. Euro remains lower against the US dollar as other issues take precedence.
July 09th, 2012 at 13:10
Euro dropped to a two-year low against the US dollar earlier, but is trying to pare some of its losses and log some gains ahead of a meeting between European finance ministers. Uncertainty is strong today, but there are small inklings of hope for the eurozone as well.
July 06th, 2012 at 15:00
All the optimism from last week’s EU summit announcement seems to have drained away. Now, the euro is heading lower on concerns about sovereign debt. Nothing seems to have changed, and Spanish bond yields are surging, once again sparking fears that the country will be unable to handle its debt. Euro isn’t getting much help from the ECB, either, and that has many concerned.
July 05th, 2012 at 12:10
The euro sank today, reaching a record low against the Australian dollar, after the European Central Bank announced its decision to decrease the main interest rate.