Greek Troubles Send Euro Lower in Forex Trading

Currency trading with the euroIn [B]currency trading[/B], the euro is moving lower as continued troubles in Greece affect the eurozone. With Greece’s debt rating recently downgraded, and concerns about Greece’s fiscal position mounting, ECB members are stating a reluctance to rescue the country.

These political tensions are affecting the euro in forex trading, and emphasizing a divide amongst countries in the 16-nation eurozone. GFT’s [B]Boris Schlossberg[/B] reports in FX360 on the political situation in the eurozone:

The financial problems with Greece expose the [B]weakness in the North South divide in the union[/B] with fiscal conditions in Spain, Portugal and Italy considerably worse than those in Germany, France and Netherlands and [B]euro’s status as a currency without a country comes under assault every time fiscal difficulties create political tensions[/B] in the union.

In addition to causing problems for the euro, the current situation is also sending European stock markets lower today.

[B]See Also[/B]

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[li]Economic Data and Currency Trading[/li]Forex trading on the currency market
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