Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Top Stories
by ForexNewsNow Team on September 12, 2011

EUR/USD: Euro Dips Below 1.3500

ForexNewsNow – The euro fell to its lowest level in seven months on Monday in wake of both a possible Greek default on its public debt and further signs of division within European Union leaders on how to resolve the EU debt crisis.

The euro was falling in value against the US dollar today, trading at 1.3620 as of around 11:15 A.M., GMT.

The EU’s single currency is up 0.26% on the day and has reached a session high of 1.3644 with a low of 1.3495 so far, its lowest level since mid-February.

This represents quite a tumble for the euro, which only a few days ago, in early September, was trading at around the 1.4300 level.

In the last few days, financial markets have been anticipating more and more a potential Greek default on its debt obligations. German leaders even discussed the possibility of Greece leaving the euro zone.

Following the resignation of European Central Bank Chief Economist Jurgen Stark on Friday, concerns about the stability of the euro have intensified.

 

For more exclusive Online Forex News,  follow us on Twitter or join us on Facebook.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))