The euro declined 0.3 percent to a one-week low of $1.3106 by 8:30 am in New York this morning as investors worried that the slowing rate of growth in the Eurozone could prolong the debt crisis.
“The data we’ve seen over the course of recent days continues to highlight the divergence in performance between the core and periphery of Europe,” said Ian Stannard, a senior currency strategist in London at BNP Paribas SA. “Issuance is going to pick up quite strongly over the course of the coming weeks and months, another concern for the euro.”
Source: Bloomberg