The EUR declined to less than $1.25 for the first time since March 2009 on concern economic growth in the region will be stalled by the planned debt reduction measure of the region's nations. The EUR sentiment was also damaged by a statement made by Former Federal Reserve Chairman Paul Volcker yesterday who stated that he is concerned the Euro area may split.
The EUR is trading at $1.2463, from $1.2535 in New York yesterday. The EUR is at 115.00 Yen, from 116.27 Yen. The Yen was at 92.38 per USD, from 92.75 yesterday. The Pound depreciated to $1.4500.
Crude Oil fell to its lowest price in more than three months on concerns that Europe's sovereign debt crisis as well as rising supplies in the U.S. will stall demand. Crude Oil for June delivery fell as much as $1.09, or 1.5%, to $73.31 a barrel, in electronic trading on the New York Mercantile Exchange. Spot Price for crude is currently at $73.00 a barrel.