19th December 2011
Despite uncertainty arising from the death of North Korean dictatorial leader Kim Jong-il in forex trading, the euro is facing issues closer to home as a result of ongoing fears over the sovereign debt crisis.
As a result, the European single currency has dipped in trading again this morning (December 19th), approaching an 11-month low of $1.2945. Today has seen a 0.2 per cent fall for the currency, with the euro standing at $1.3020 as of 10:39 GMT.
Lee Hardman, currency strategist at BTM-UFJ, told Reuters: "The main focus for markets remains the developments in Europe and the subsequent implications for global growth."
"The negative implications for global growth following Kim Jong-il's death are limited."
Last week, the euro also approached this 11-month nadir, but was able to pull back from the brink following slightly improved confidence from investors. This however, now appears to be evaporating and it could be set to be a very interesting few days for the currency in the run-up to the new year.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.