This Crazy Drop In The Euro Has Sent Everyone Reeling

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Wednesday, December 28, 2011 This Crazy Drop In The Euro Has Sent Everyone Reeling A nearly $0.01 drop in the value over the course of an hour sent traders reeling this morning, renewing fears that the eurozone debt crisis is a very real threat, indeed. The euro bottomed out around $1.2920 before recovering slightly later in the trading day. It also marked a 10-year low against the Japanese yen. Perhaps most troublesome was the fact that the move came seemingly without any major impetus. The wires have remained quiet all day after a relatively successful Italian bond auction this morning. This suggests that sentiment has once again turned against prospects for a swift resolution for the European crisis, after the European Central Bank conducted an unprecedented long-term bank lending operation last week. The British pound sterling accompanied the euro free fall, falling even more dramatically from over $1.5650 to around $1.5460. Markets also appeared to accompany this drop in the euro, making for a negative open in the U.S. and moving from green to red across the pond. Check out the euro's progress against the dollar today: Read » Also On Money Game Today: If The European Politicians Lose The Currency Chess Game AP: We Polled A Bunch Of Economists And ALL Gave President Obama Mediocre Marks Fed Nominee Jeremy Stein 'Could Shutter The US Financial Services Industry' If He Gets His Way China Announces Another Massive Cut In Rare Earth Exports Advertisement CHART OF THE DAY: Home Prices Are Still Falling CHART OF THE DAY: 2011's Great News For Government Spending CHART OF THE DAY: Why The Recovery Was So Awful This Year Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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