Euro slide builds momentum

The euro traded to a two-year low as investors sold the single currency amid fears of a global economic slowdown and diminished expectations for stimulus from the US.

14th July, 2012
Euro slide builds momentum
Vincent Killeen, Senior Manager, Institutional Sales Team, Bank of Ireland Global Markets.

The euro traded to a two-year low as investors sold the single currency on fears about a global economic slowdown, diminished expectations for stimulus from the US Federal Reserve (QE3), and frustration that EU policymakers are behind the curve in implementing solutions to resolve the Eurozone debt crisis.

The positive market response to the outcome of the EU summit meeting on June 29 has given way to concern after the EcoFin meeting in Brussels this...

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