More pain for euro as growth fades, crisis endures

The euro is likely to stay under pressure until early next year as investors grow bearish about euro zone growth prospects and policymakers' ability to bring a rapid conclusion to the region's debt crisis.

The single currency has shed more than 3 percent against the dollar so far this week, equivalent to all its losses for 2011, as a European Union summit last week fell short of investor expectations for decisive steps to stem the bloc's debt crisis.

It hit an 11-month low of $1.2945 on Wednesday and some analysts expect it to fall towards $1.25 in the coming months, perhaps lower, as investors such as Asian central banks to Middle Eastern sovereign wealth funds express their dismay.

Read Full Article from Reuters

- Posted: 2011-12-14 11:38:12

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