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Euro Sags to an 11-Year Low
The euro weakened sharply against the U.S. dollar over the weekend after Greece's likely new Prime Minister Alexis Tsipras vowed to renegotiate the country's debt.
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The euro weakened sharply against the U.S. dollar over the weekend after Greece's likely new Prime Minister Alexis Tsipras vowed to renegotiate the country's debt.
The euro was weakened by worries that Greece's financial moves could trigger a new recession in the eurozone. The currency fell to 1.11 to the dollar over the weekend.
The euro was hit late last week when the European Central Bank said it will launch a €1.1 trillion economic stimulus program to inject €60 billion per month into the regional economy at least through September 2016.
Analysts predict the euro will fluctuate, making the profit of exported eurozone vehicles uncertain, until Greece's new left-wing government clarifies its intentions.
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