On the first day of the week, the euro continued to become cheaper against the dollar, once again, proved negative impact worries about problems in Greece and the lack of details about the plan to save Spanish banks and increasing yield to maturity of 10 year olds Spanish bonds
The euro fell to $ 1.2482, while opening the market currency pairs are quoted at 1.2640, well above the close on Friday because the weekend the European Union has agreed to provide a rescue package of € 100 billion for Spanish banking sector distress. However, many questions arise on which it was thrown light like – exactly where the money will come or otherwise, who will be the holder of the debt, which would have suffered any losses and fears that the country can no longer adhere to austerity after banks have been saved, at least for now. Also, it is unclear whether the agreement includes banking reforms, as provided by creditors. Meanwhile, the approaching elections in Greece rise to additional uncertainty in the markets.
Optimism quickly left investors, finding expression in the sales in the euro, which we have witnessed throughout the day. Since the beginning of the year, the single currency has lost about 3.4 percent against the dollar by 1.1 percent just this month, reaching its lowest level in almost two years. Meanwhile, the euro has dropped from 100.62 to 99.14 against the Japanese yen and 0.8145 to 0.8058 against the British pound.
British currency, in turn, lost positions against the dollar, reaching 1.5483, while commodity currencies – Australian and Canadian dollar share has accordingly – at 0.9862 and 1.0315 against USD namesake.
Most of the day progressed the Japanese yen, rising to 79.43 per dollar at the end of the day.