Dollar strengthens as Eurozone contagion looms

By Andrew Wilkinson
04 February 2010 @ 09:57 am EDT

So much for spinning on a dime as far as a euro currency rebound goes. The rally in the fortunes of the single currency proved to be nothing more than a passing ship in the night. The Herculean efforts to reduce its fiscal deficit, or at least those put down on paper by the Greek government, have served to put the less austere measures from governments in Spain and Portugal on center stage. And thus the tragedy drags on, weighing on the health of European economic recovery and in its wake has dragged the euro down to its weakest level against the dollar since June 2009 - a seven month low.   

Contributed by Interactive Brokers

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