The Spanish flu and the Greek crisis plunged the single currency to the lows of the last two years: the continental currency finds support on its share 1,2387 to settle back, in the late afternoon, on the levels of the last few days, around 1,24. It must be traced back to July 2010 to find the euro below the psychological threshold broken today.
The euro also weakens against the yen, touching the minimum since January at altitude 97,75.
The depreciation of the continental currency entirely reflects fears about the European debt crisis, since today was not even particularly positive on the American side, with real estate indices down and stock markets down.
The trend of the Eurodollar exchange rate is therefore entirely driven by fears about the recapitalization of Spanish banks and by the possible scenarios that will take shape after the Greek elections of June 17th.
