Euro: The Endless Pit in 2010
Thursday, February 25th, 2010
The euro has just touched a new record low for 2010 versus the greenback and the yen on speculations that Greece will suffer its first credit downgrade this year, which would follow the two previously suffered last year as the southern European nation started to agonize with its growing budget deficits.
The Japanese yen, known as the safest bet in forex markets during times of uncertainty, profited today from negative releases in both Europe and North America, allowing the Asian refuge currency to post the sharpest gains versus currencies tied to growth.