Euro hits lowest since July 2010

The Euro continued to fall against the dollar, breaking through the $1.24 level to a fresh 22-month low amid a sell-off in European peripheral bonds as Spanish yields approached a euro-era high.

The single currency fell 0.8 per cent to as low as $1.2384, its weakest level since July 2010, as investors looked to the European Central Bank's meeting next Wednesday with increased expectations of a rate cut.

The Euro has so far fallen more than 6 per cent in May as concerns over European peripheral debt and Greeces membership of the Eurozone have grown ... READ MORE

Released by the Financial Times - 30 May 2012