07 June 2010

Euro hits new 4-Year Low

Monday saw global stocks fall as renewed fears over the European debt crisis and the health of the US economy left their impact on investors.

After a low end to the week last week, with worse-than-expected jobs data in the US, and new focus on problems in the Hungarian economy, on Monday fresh fears of a double-dip recession affected markets which are already hyper-sensitive.

After overnight falls in Asia and Sydney, the euro fell to its lowest level in over four years against the US dollar on the foreign exchange market.

Good news for US travellers to the European mainland perhaps, but for already suffering European economies it brings another blow.

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