The euro weakened today as the troika refused to provide a next round of bailout for Greece as the indebted country was continuously failing to stick to the targets that were set as conditions for the rescue package.
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
September 10th, 2012 at 9:00
September 08th, 2012 at 15:56
The euro jumped this week, posting the fourth consecutive weekly gain. The major driving factors for the rally were the policy meeting of the European Central Bank and US nonfarm payrolls that came out worse than expected.
September 07th, 2012 at 13:23
Euro is receiving quite a boost today as markets show their approval of the most recent plan to help save the euro. However, even with this plan in place, there are still plenty of hurdles for the eurozone.
September 06th, 2012 at 15:21
The euro was stronger today European Central Bank President Mario Draghi left the key minimum bid rate unchanged and detailed the program of unlimited sterilized purchases of sovereign bonds. Such decision was expected by Forex market participants, but was well-received nevertheless.
September 06th, 2012 at 1:17
The euro jumped yesterday and retained its gains today as hopes for asset purchase plan of the European Central Bank continued to support the shared 17-nation currency and made market participants more willing to invest in European assets.
September 04th, 2012 at 23:52
Hopes for the coming European Central Bank policy meeting were driving the euro higher today. Yet the rally stalled and then failed completely. As a result, the shared 17-nation currency ended the trading session in the negative territory.
September 03rd, 2012 at 14:44
Euro is seeing slight gains today, heading a little higher against the US dollar. For now, the gains are somewhat limited, since trading is thin. With US markets closed for the Labor Day holiday, it is little surprise that most currencies are rangebound right now. Euro, though, is looking to eke out some gains today.
August 31st, 2012 at 13:42
Euro is gaining today, heading higher as it consolidates recent gains, especially against the US dollar. Even with mixed economic data in the eurozone, the 17-nation currency has the upper hand today.
August 30th, 2012 at 21:38
The euro gave up its earlier gains today as Spain disappointed the Forex market participants, postponing its request for a bailout. After so much talking about the aid, such move was not well-received by the FX market and the euro lost its ground.
August 29th, 2012 at 14:09
Once again, rumors are flying concerning the euro, and what could be done to save it. Mario Draghi wrote an English-language opinion piece published earlier in Die Zeit, a German newspaper. The piece takes a look at the future of the euro, and lays out what Draghi considers “exceptional measures”, as well as calling for a fundamental change in the makeup of the eurozone.