The controversial Cyprus bailout, with the imposition of a forced levy on citizens' current accounts, scares investors, causing a cascade, as well as on stock exchanges, even on the European currency, down against both the dollar and the yen.
When the currency markets opened, the euro was trading at 1,2901 dollars, after last Friday the ECB had recorded it at 1,3806. After reaching these lows, however, the European currency recovered against the US one, leveling off in mid-morning at 1,2945 dollars, down 1,03% from Friday's close.
Even more marked the decline against the yen, which exceeds 1,5% compared to the last closure.
