European session: the euro fell

Market news

25 June 2012

European session: the euro fell

The euro fell before Italy and Spain sell debt tomorrow amid concern Europe’s fiscal crisis is infecting bigger economies.

The common currency extended last week’s drop versus the dollar as billionaire investor George Soros said the euro may dissolve if European Union leaders fail to tame the financial turmoil at a June 28-29 summit.

The yen strengthened on demand for haven assets as stocks slid.

EUR/USD: pair fell below $1.2500.

GBP/USD: pair decreased, showing low in $ 1.5540 area.

USD/JPY: pair fell in Y79.80 area.

US data starts at at 1400GMT by New Home Sales.

US Stocks open: Dow 12,486.42 -154.36 -1.22%, Nasdaq 2,848.62 -43.80 -1.51%, S&P 1,315.50 -19.52 -1.46%

Before the bell: S&P futures -0.87%, Nasdaq futures -0.63%

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