The euro slipped today against the US dollar and the Japanese yen as the concern that the European banks would require to raise more funds damped demand to the European assets.
The report this week shall tell how much it’ll be for Ireland to bailout Anglo Irish Bank Corp. Brian Lenihan, Ireland’s Minister for Finance, promised that the costs would be “manageable”. The government expects the bailout to cost about €22 billion, but the Standard & Poor’s estimates put it closer to €35 billion, which is equal to 20 percent of Ireland’s GDP. The euro also fell as the Der Spiegel said that the European Commission lacks the confidence in the vitality of the German lenders.
EUR/USD slipped from 1.3483 to 1.3440 today as of 9:38 GMT, while EUR/JPY went down from 113.66 to 113.18.
If you want to comment on the euro’s recent action or have any questions regarding this currency, please, feel free to reply below.
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