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Euro 'to continue to suffer in 2012'

30th December 2011

The euro is set to remain under pressure due to the European debt crisis after ending the year on a bleak note, it has been revealed.

Forex markets showed that the euro marked a downfall to 0.3 per cent at $1.2916 at the close of stocks last night (December 29th), suggesting that the instability is to remain into 2012, Reuters reports.

The single currency recouped some losses from earlier this week when it sank to a 15-month low of $1.2858 following an Italian bond auction.

FX players said that the euro's drop in value was made even more significant by illiquidity and the effects of the debt crisis currently concentrated in Italy, which is the eurozone's third largest economy.

Italy currently needs to raise €452 billion in debt markets in 2012 to clear itself of financial negativity.

Yesterday, the euro fell to a ten-year low compared to the yen and the dollar.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.