Euro Falls Against U.S. Dollar on Portugal Debt Auction

Portugal managed to raise an additional $1 billion on Thursday. On the one hand, this is a sign that investors are still willing to lend to the debt-ridden country, especially since the demand for the treasury bills was more than double the amount needed. On the other hand, Portugal had to pay an interest rate of 4.66% for the two-month loan, slightly higher than before. The euro lost some ground against the U.S. dollar in the early morning trading, as it slid to $1.4232, down 0.126% on yesterday's close. Those traders who believe the problems in Eurozone's periphery will continue to reduce the value of euro will be interested in the Market Vectors Double Short Euro ETN DRR.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsForexEconomicsMarketsETFs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!