The euro went down today as the concern grows that the rescue package, provided by the European Union to Greece and valued as much as 45 billions euro ($61 billion), wouldn’t be enough to completely deal with the country’s debt.
The worries about the strength of the Greece’s economy grow anew and may hurt other European countries as the concerns are spreading to them too. Another such country may be Portugal as was signaled by the EU official’s announcement that Portugal may be required to take additional measures to ease its budget deficit. Amid such uncertainty the ensuing doubts about the euro’s strength erased previous gains of the currency and have sent it tumbling down.
EUR/USD traded at 1.3547 as of 9:36 GMT today down from its opening price of 1.3652. EUR/JPY traded near 126.10 after opening at 127.27.
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