10th January 2012
The European single currency has now halted a fall that saw the money dip to a 15-month low against the US dollar in trading earlier today (January 9th).
According to the Wall Street Journal, renewed debt worries pushed down the single currency in trading, although an upcoming meeting between French president Nicolas Sarkozy and German chancellor Angela Merkel has helped stabilise trading at present.
However, any discord between the two heads of state could see the euro making further losses over the coming days.
Robert Ryan, currency strategist at BNP Paribas, told the publication: "There's plenty of fuel for an unwind of euro shorts, but it's very difficult to see what would intervene to drive the euro higher."
At the end of last week, the euro was holding firm against the greenback despite ongoing fears over the future of economic stability in the region.
On Friday, data showing a two-year low in terms of investor confidence in the eurozone was published.
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