Euro slide continues, breaks 1.2500 at 2 year lows

by Joe Oliver, Forex Trading-Pips

The euro continued its slide on Tuesday taking out 1.2500 level and trading down to 1.2462, the weakest level since July 2010. Fear remains high that Europe’s debt crisis is spreading after Spanish 10-year bond yields rose to the highest level since November. Contributing to the risk off move China damped speculation of large-scale stimulus. Xinhua News Agency reported “The Chinese government’s intention is very clear: It will not roll out another massive stimulus plan to seek high economic growth”.

Euro Currency 60 minute bars

Euro Currency 60 minute bars