Forex: Euro extends losses as Spain's Valencia seeks help
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Córdoba) - The euro extended losses across the board on Friday amid talk Spain's Valencia region will seek central government help to refinance its debt.
The euro fell below 1.2200 against the dollar and touched a 7-week low versus the yen at 95.75 after the news. The shared currency was already under pressure on Friday as 10-year Spanish yield rose back above 7% despite the expected approval of a bank bailout plan later in the day.
The EURGBP hit its lowest level since Oct 2008 at 0.7772, while the euro continues to print fresh all-time lows against the commodity bloc, namely AUD, NZD and CAD.
The euro fell below 1.2200 against the dollar and touched a 7-week low versus the yen at 95.75 after the news. The shared currency was already under pressure on Friday as 10-year Spanish yield rose back above 7% despite the expected approval of a bank bailout plan later in the day.
The EURGBP hit its lowest level since Oct 2008 at 0.7772, while the euro continues to print fresh all-time lows against the commodity bloc, namely AUD, NZD and CAD.
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