Following last weeks meeting of the European Central Bank, investors were decidedly unenthusiastic regarding the lack of a plan to assist Greece in combating its mounting debts. Consequently, the Euro dropped near a 9-month low against the U.S. Dollar. This pessimistic sentiment is predicted to continue this week, as it is becoming clear that there is no clear strategy to aid Greece.
With no major Euro indicators scheduled for today, investors seem to be going short on the single currency as it does not appear that any good news is on the horizon. Currently EUR/USD is trading around the 1.3605 level, very close to the near record lows reached last week. Fresh concerns over Spain and Portugal's debts will likely do nothing to aid the ailing currency in the foreseeable future.