Euro falls to an all-time low

The euro has fallen against the dollar to a low point in the last 2 years. The need for the request for financial support did not sit well with investors. The fear is that not only Spain's banking sector, but also the whole of Spain will have to be bailed out by the euro countries.

The message from the European Central Bank (ECB) last Friday also contributed to this drop in value. It was announced that the ECB will no longer accept Greek government bonds as collateral for the loans. 

Yesterday afternoon, the euro slipped to a reading of 1.2143 against the dollar. Later, there was a somewhat recovery to $1.2163.

The euro is also very low against the Canadian and Australian dollars. Against the Japanese yen, this is even the lowest point in the past 11 years.