Markets
Euro extends losses against dollar, hits session low
NEW YORK : The euro extended losses against the US dollar on Monday as initial relief over European Central Bank purchas
By
NEW YORK: The euro extended losses against the US dollar on Monday as initial relief over European Central Bank purchases of Spanish and Italian government bonds petered out and risk aversion took hold.
The euro fell as low as $1.41612, according to the EBS trading platform. It was last at $1.41840, down 0.7 percent on the day.
Traders said the ECB bought Spanish and Italian debt early in the European session after it said on Sunday it would "actively implement" its bond-buying program.
Market participants are bracing for volatility ahead of the open of the New York Stock Exchange in the first session after Standard & Poor's downgraded US debt.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.