Currency trading with the euro

In currency trading, the euro is moving lower as continued troubles in Greece affect the eurozone. With Greece's debt rating recently downgraded, and concerns about Greece's fiscal position mounting, ECB members are stating a reluctance to rescue the country.

These political tensions are affecting the euro in forex trading, and emphasizing a divide amongst countries in the 16-nation eurozone. GFT's Boris Schlossberg reports in FX360 on the political situation in the eurozone:

The financial problems with Greece expose the weakness in the North South divide in the union with fiscal conditions in Spain, Portugal and Italy considerably worse than those in Germany, France and Netherlands and euro’s status as a currency without a country comes under assault every time fiscal difficulties create political tensions in the union.

In addition to causing problems for the euro, the current situation is also sending European stock markets lower today.

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