Source: ForexYard
During the Asian trading session, the 17-nation currency weakened against its major currency rivals prior to tomorrows expected auctioning of Spanish Bonds.
Just before 10am Tokyo time, the Euro slipped 0.5 percent to $1,3017 versus the U.S dollar after falling to a month-low of $1,3013, a market rate last seen Mid-March.
The single currency also lost ground with the Japanese Yen and the British Pound.The Euro dropped 0.4 percent versus the Yen to hit the 105.38, after previously falling to 105.29, the lowest rate since February 21. Versus the Sterling, the Euro also dropped 0.4 percent to 82.21, its lowest since September 2010.
Following the Spanish Bond Auction tomorrow, European Central Bank President Mario Draghi will make a speech.Draghi’s speech could possibly create a short term trend for the Euro.
Forex Market Analysis provided by ForexYard.
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