The euro continued to decline for another week versus important currencies around the world as the some of the Eurozone member countries’ budget deficit is shunning investors from the region, considering the economic outlook in other parts of the world is significantly more attractive to investors.
The European single currency touched the lowest levels in 2010 versus important currencies like the U.S. dollar, the Brazilian real and other
Not only the fiscal crisis is affecting the euro’s price, but also the dynamism in other important economic regions around the world provide traders with better options to inject capital, both in riskier assets in the South Pacific and emerging markets, but also in safer bets as the Swiss franc.
EUR/USD traded at 1.3550 as of 17:15 GMT from a previous intraday rate of 1.3607. EUR/AUD remained neutral at 1.5116.
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