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The euro dropped to a three-week low versus the dollar, while bonds edged higher as Spain’s debt burden increased fears of further problems for economies in the eurozone and lowered appetite for riskier assets, reports Reuters. Global stocks dipped, while gold and energy prices climbed. Wednesday’s poor Spanish bond auction added to...

The euro dropped to a three-week low versus the dollar today after the president of the European Central Bank, Mario Draghi, revealed that the economic outlook for the eurozone is subject to downside risks linked to commodity prices and the debt crisis, reports Reuters. The single currency was already pressurised after Spain’s borrowing...

Spain is reducing its budget by 27bn euros (£22.5bn) this year in what is among the toughest austerity drives it has ever taken, reports the BBC. Changes will include cutting departmental budgets by 16.9 per cent and freezing the salaries of public sector workers. The government claims it will be able to raise 12.3bn euros over the next...

The euro suffered losses in Asia on Thursday, falling from an almost five-month high against the yen as well as two-week highs on the US dollar after concerns about Spain’s finances added fresh pressure on the eurozone bonds, reports Reuters. The euro last stood at $1.3212, having dropped from its overnight high of $1.3286. The rise in...

The dollar was the highest it has been for three weeks against the euro on Monday following positive employment statistics from the USA. The figures, which suggest America may not need any further help from the Federal Reserve, came as Greece’s bond swap deals are put in place to clear the way for a new bailout. The euro slipped to...

The euro and commodity currencies saw overnight gains in Asia after Greece edged closer to securing the funds required to avoid a debt default, reports Reuters. However, further gains are likely to depend on consumer inflation data and industrial output from China, which could either undermine or support the improving risk sentiment. The...

More lenders in the private sector have agreed to a Greek debt swap deal which could determine if the Mediterranean nation can stay in the euro, reports the BBC. The banking group heading the negotiations said 39.3 per cent of bondholders have signed up to exchange their Greek government bonds for new debt. However, 75 per cent is the...

Expats, pensioners and holiday homeowners are selling up and returning home in large numbers – or at least sending their foreign money back to Britain. UK-based foreign-currency brokers are reporting a massive amount of foreign money being converted back into pounds from overseas. At the same time, property companies from overseas have...

The euro was at a two-and-a-half month high on Friday, keeping a hold of the hefty gains made a day earlier after data on improved business sentiment in Germany encouraged traders to cover their positions, reports Forex. The euro rallied one per cent on Thursday, easily spiking above the Ichimoku cloud on the daily charts. It also breached...

The euro traded flat versus the dollar yesterday, after almost hitting a two-week high earlier, as investors turned their focus to the obstacles to implement a Greek bailout package and the implications it will have on the eurozone economy. Reuters reported that eurozone finance ministers reached a deal on a 130bn euro bailout for Greece...