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The euro lost ground on the dollar for the seventh consecutive session on Tuesday on concerns that a change of president in France and political uncertainty in Greece could threaten austerity plans viewed as key to solving the debt crisis in the eurozone, reports Reuters. The euro dropped below the psychological $1.30 level after the Greek...

European stocks increased on Tuesday, as an upbeat economic sentiment reading from Germany and sufficient demand at a government debt auction in Spain helped lower the risk aversion and attract investors back to the equity market following a month-long sell-off, reports Reuters. However, technical strategists said it was too early to say...

Spain’s cost of borrowing has gone above six per cent, increasing bailout prospects, according to the BBC. The yield on the country’s 10-year bonds hit 6.1 per cent in the build up to debt auctions on Tuesday and Thursday which could become expensive for Spain. The country’s cost of borrowing has risen steadily during the last four...

European markets edged up on Wednesday after making recovering slightly from losses on Tuesday, reports the BBC. By lunchtime, the French and German indexes were up nearly 1.5 per cent, while the FTSE 100 in London was up by 0.6 per cent. Investors are still concerned about Spain, which is faced with borrowing costs of almost six per cent,...

Stock markets have fallen on fears about the European and US economies, reports the BBC. Shares fell in Europe following the disappointing Spanish bond sale. French and German shares dropped by nearly three per cent. In addition, the European Central Bank said that it would not take emergency measures to tackle the debt crisis in the...

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 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 pound ascended to a 10-week high compared to the dollar on Tuesday, but more gains are limited due to concerns over Portugal’s debt woes. The pound hit 1.5797 against the dollar in the morning, the highest since November 21; but consolidated at 1.5776, reports the website Forex Rate It. Early gains were also made by the pound...

The euro rose today and was supported by increasing hopes for the Greeks to agree a debt restructuring deal capable of helping the country steer clear of a disorderly default. As reported by Reuters, the dollar extended recent losses versus the Japanese yen and hit its lowest rate in three months after the US Federal Reserve stated last...

The euro has dropped against the dollar as attention continues to focus on a proposed deal between Greece and its creditors. The country’s finance minister, Evangelos Venizelos, has reacted angrily to a suggestion that Greece should let European institutions take control of budget policy. The euro has fallen 0.3 per cent to $1.3178. The...