25th November 2011
Ongoing fears over the debt crisis in the eurozone are continuing to have a detrimental impact on the single currency's fortunes, it has been revealed.
According to Reuters, the euro dipped to an almost seven-week low against the US dollar in Asian forex trading overnight (November 25th) as investors fail to see an end in sight for the problems of major European economies.
"The euro continues to remain weak and a break below 1.3315 session lows down to next support at 1.3146 cannot be ruled out into what will be a rather illiquid trading environment heading into the weekend," a BNP Paribas analyst told the news provider.
Furthermore, the Thanksgiving lull in the US has done little to help the currency to recover.
Yesterday, a number of major markets fell on the back of continuing weak economic data from the US and China, with the FTSE 100, Dow Jones Industrial Average and the S&P 500 all losing ground in early trading.
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