Currency market news
Euro is heading lower in forex trading on the currency market, dropping as concerns about Spain overwhelm the markets.
Several Spanish regions are asking for funding help from Spain?s central government, prompting fears that Spain will become the fourth eurozone country to need a major bailout. The banking bailout approved recently doesn?t seem to be enough.
With Spanish bond yields rising, fears about Greece returning, and falling gold prices putting pressure on the euro, it is little surprise that the 17-nation currency is below 1.21. Concerns about what?s next are hitting markets hard, and the euro is slipping.
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Source: http://oakshirefinancial.com/2012/07/24/euro-heads-lower-in-forex-trading-2/
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