December 14, 2011
The euro fell below $1.30 for the first time since Jan. 12 amid concerns that last week's summit of European Union leaders hasn't gone far enough to fix the currency.
The common currency dipped as low as $1.2994—its lowest point since January—after a sustained period of pressure throughout European trading hours. So far, there has been no re-run of Tuesday's drubbing, but analysts and traders are braced for a hefty slide in the euro.
In early New York trade, the euro continued to fall and was recently at $1.2977 from $1.3037 late Tuesday. The euro was at £0.393, compared with £0.8416, while it traded at ¥101.32 from ¥101.64. The dollar was at ¥78.05 from ¥78, while the pound was at $1.5465 compared with $1.5480.
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