Portugal pressing problems of financing in the euro



Portugal pressing problems of financing in the euro:

Yesterday the euro hovered near its lowest level against the dollar in four months, with growing concerns regarding the debt crisis of Europe, especially after the source said that Portugal is under increasing pressure to accept the assistance of the European Union and the International Monetary Fund.

A senior source in the euro area and informed the agency «Reuters» the day before yesterday, that pressure is growing to Portugal from Germany and France to ask for financial assistance from the Union and the Fund in order to prevent the outbreak of the debt crisis of the region.

The comments came after a government spokesman denied the Portuguese a report to the German magazine, that Lisbon is under pressure from Berlin and Paris to request assistance.

The single currency fell to low levels had not been reported since mid-September (September), a registered U.S. $ 1.2860 on trading platform «IPS», after the activation of sell orders to stop the loss of 1.2900 and 1.2870 dollars. Improved currency transactions in the European, from $ 1.2900, unchanged from the previous close.

In Asian trading the euro also fell to its lowest level against the dollar after operations ceased in thin trade due to growing concern regarding the debt crisis of Europe.

Traders said the market, the euro still looks vulnerable to risks because of fears of public debt service in Portugal, Spain and Italy, all of which will address the bond market for funding this week.

Said a trader at a U.S. investment bank: «the issue of sovereign debt still exists and the market perfectly happy once sale euro».

The euro fell against other currencies, falling to around 1.2450 Swiss francs, and 107 yen. The last time the record 1.2480 Swiss francs and 107.15 yen.

The dollar benefited from the weakness of the euro with a high dollar index, which measures its performance against a basket of major currencies to its highest level in five weeks, to rise by 0.2 percent to 81.227, a level not achieved since the beginning of December (December).

The index 81.199, recording an increase after falling for a brief period and disappointing data on jobs outside the agricultural sector in the United States last Friday.

Gold stable

Reflected concerns regarding the euro area and Portugal, stable gold prices near the level of 1370 per ounce in European trading yesterday.

The price of gold in the spot market of $ 1368.55 an ounce, compared with 1368.80 dollars in late U.S. trade last Friday.

Futures and landed in the United States $ 1.30 an ounce to $ 1367.60 dollars per ounce. Rose on acquisitions in India's largest consumer of gold in the world after the decline in prices last week, which attracted buyers to the market again.


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