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Euro Slides as Spain’s Bank Woes Haunt
Posted By kurtnimmo On July 19, 2012 @ 3:09 pm In Global Crisis | Comments Disabled
July 19, 2012
The euro was little changed against the dollar on Thursday after hitting a record low against the Australian dollar and a 3-1/2-year trough versus sterling, as weak U.S. data and Germany’s fresh warnings about Spain’s banking troubles diminished risk appetite.
A slew of soft U.S. economic data affirmed views that recovery in the world’s largest economy has stalled, prompting investors to pare back positions in risky but higher-yielding assets.
Riskier currencies such as the Australian and New Zealand dollars were still up on the day against the dollar and euro, but off their peaks.
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