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Euro dips on persistent debt fears
Published in The Egyptian Gazette on 18 - 05 - 2010

ZURICH--The euro dipped on Tuesday after bouncing from four-year lows, weighed down by persistent worries about the euro area's fiscal health that also kept investors in Asia on edge.
Stocks hovered near a three-month low struck on Monday, with materials shares down a day after metals prices tumbled on fears that China's economy may be slowing.
Traders said that while the euro's sharp fall made it ripe for a bounce, it would stay under pressure over the longer run due to concerns that belt tightening needed to prevent the Greek debt crisis from spreading could stunt European growth.
"It is still hard to see how the problems in Europe stemming from Greece will come to an end. It is hard to say what would convince everyone that it is over," said Minoru Shioiri, chief manager of FX trading at Mitsubishi UFJ Morgan Stanley Securities.


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