30th November 2011
The euro has dipped by 0.5 per cent against the US dollar (USD) to $1.3259 in trading today (November 30th).
Reuters reports investors are growing increasingly concerned that plans to tackle the ongoing financial crisis and not heavy-hitting enough and this is weighing down on the single currency in forex trading.
Kasper Kirkegaard, currency strategist at Danske in Copenhagen, told the news provider: "We're still trading on the underlying theme of widening spreads in the eurozone and limited probability of a near-term policy response and that means the underlying trend remains for a weaker euro."
This latest development follows comments from Italy's markets regulator, which claimed the eurozone could be in danger of fragmenting if a viable solution to the difficulties is not brought forward soon.
The single currency saw considerable improvement yesterday after the successful completion of the latest Italian debt auction.
Overall, the Italian government was able to sell €7.5 billion (£6.4 billion) of debt in a range of three and ten-year bonds.
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