Euro remains low over debt worries
The euro slipped further against the US dollar during Tuesday mornings trading session, nearing a four year low as concerns over the euro zone debt crisis continues. Traders await the news from a meeting, taking place later today between euro zone finance ministers, which is likely to provide more details of the trillion dollar bailout plan to prevent Greece’s debt problems affecting other European countries.
During the session, the euro fell as low as $1.2315 hovering just above the four year low of $1.2234 hit in April 2006, before steadying and rising to $1.2400 by the end of the session. The euro was also under pressure after news that the US Senate voted for its government to oppose the IMF bailout to countries that are unlikely to be able to repay them.