Investors take hammer to Teflon euro

Since the start of September 2011 the euro single currency has dropped steeply against other world currencies.

A number of factors were considered to be behind the falls, not least fears over a possible Greek default and even a break-up of the eurozone currency union. Some analysts believed the tipping point was the ECB’s decision in September 2011 to abandon its hawkish stance on interest rates.

ESO: Background information: ECB leaves rates at 1.5% / Trichet defends ‘impeccable’ ECB record http://www.europeansources.info/record/ecb-leaves-rates-at-1-5-trichet-defends-impeccable-ecb-record/

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