The euro fell versus the US dollar today on concerns that Greece and other indebted nation of the European Union will be required to restructure their debt. The currency pair somewhat recovered after the economic reports from the US were worse than predicted.
Germany’s Finance Minister Wolfgang Schaeuble said that Greece may be required to restructure its debt if the audit in June would show the nation’s inability to repay the debt. The yield on the 10-year Greek bond climbed 28 basis points to 13.20 percent, rising above 13 percent for the first time since the introduction of the euro.
EUR/USD traded at 1.4436 as of 13:57 GMT today after earlier it dropped to the intraday low of 1.4364 from the opening price of 1.4442.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.
