Euro sinks amid new jitters over sovereign debt
Page 1 of 1 • Share
Euro sinks amid new jitters over sovereign debt
[You must be registered and logged in to see this image.]
TOKYO: The euro fell against the dollar and yen in Asia on Monday with Italy's debt under the spotlight as continued worries about Greece shook confidence in the eurozone.
The euro bought $1.4118 in Tokyo morning trade, down from $1.4195 in New York late Friday. It also slipped to 114.01 yen from 114.10.
The dollar firmed to 80.77 yen from 80.34 yen.
"As has been so often the case recently, eurozone sovereign debt problems knocked investor risk-appetite lower," said John Kyriakopoulos, currency strategist at National Australia Bank.
Moody's ratings agency has put the ratings of 16 Italian banks on review for possible downgrade and changed the outlook for a further 13 banks to negative from stable.
The move sparked fresh concerns over European debt problems and sent stock prices plunging on Friday amid concerns of contagion from the Greek crisis.
"The worsening in investor risk-appetite encouraged "safe haven demand" for the Swiss franc, Japanese yen and US dollars, Kyriakopoulos said in a note.
Currency rates this week will be swayed by the Greek parliamentary vote on the government's new austerity measures critical to securing another bailout package and by production data from China, Britain and the United States, said analysts.
Given the measures are unpopular among the public, concerns are growing that Greek lawmakers may not make their support clear until the last minute or perhaps oppose the measures, Junichi Ishikawa, forex analyst at IG Markets Securities, told. (AFP)
TOKYO: The euro fell against the dollar and yen in Asia on Monday with Italy's debt under the spotlight as continued worries about Greece shook confidence in the eurozone.
The euro bought $1.4118 in Tokyo morning trade, down from $1.4195 in New York late Friday. It also slipped to 114.01 yen from 114.10.
The dollar firmed to 80.77 yen from 80.34 yen.
"As has been so often the case recently, eurozone sovereign debt problems knocked investor risk-appetite lower," said John Kyriakopoulos, currency strategist at National Australia Bank.
Moody's ratings agency has put the ratings of 16 Italian banks on review for possible downgrade and changed the outlook for a further 13 banks to negative from stable.
The move sparked fresh concerns over European debt problems and sent stock prices plunging on Friday amid concerns of contagion from the Greek crisis.
"The worsening in investor risk-appetite encouraged "safe haven demand" for the Swiss franc, Japanese yen and US dollars, Kyriakopoulos said in a note.
Currency rates this week will be swayed by the Greek parliamentary vote on the government's new austerity measures critical to securing another bailout package and by production data from China, Britain and the United States, said analysts.
Given the measures are unpopular among the public, concerns are growing that Greek lawmakers may not make their support clear until the last minute or perhaps oppose the measures, Junichi Ishikawa, forex analyst at IG Markets Securities, told. (AFP)
Noor Bangash- Monstars
-
Posts : 868
Join date : 2011-07-13
Age : 34
Character sheet
Experience:
(500/500)
Similar topics
» Euro sinks on new Greek debt worries
» Euro drops as sovereign debt fears rise
» Euro falls against dollar on eurozone debt woes
» Euro remains weak on sovereign debt woes
» Dollar sinks further on stalled US debt talks
» Euro drops as sovereign debt fears rise
» Euro falls against dollar on eurozone debt woes
» Euro remains weak on sovereign debt woes
» Dollar sinks further on stalled US debt talks
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Sat May 04, 2024 11:49 am by ali001
» house disrepair claims
Thu May 02, 2024 4:29 pm by Ibad Khan Buledi
» Bounce n Bang: Physics puzzler
Thu May 02, 2024 11:39 am by ali001
» AIChatSY - AIChatbot Assistant
Wed May 01, 2024 10:48 am by ali001
» Storybook Magic App
Tue Apr 30, 2024 7:06 pm by ali001
» Flower Book Match3 Puzzle Game
Tue Apr 30, 2024 12:17 pm by ali001
» Avian Influenza Symptom in Chickens "Bird Flu H5N1 Virus" Vet learning materials, Poultry Farming
Sat Apr 27, 2024 9:57 am by Ibad Khan Buledi
» Aloha Planner - Note-Taker
Thu Apr 11, 2024 4:52 pm by ali001
» Streaming Guide Film TV Series
Tue Apr 09, 2024 9:39 pm by ali001