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.