The wires are pinning the drop on this:
RTRS-EURO FALLS AFTER SOURCES SAY MERKEL REJECTS RAISING UPPER LIMITS OF FUNDING FOR ESM BAILOUT MECHANISM
RTRS-EURO FALLS TO WEAKEST LEVEL SINCE MID-JANUARY VERSUS DOLLAR
RTRS-EURO EXTENDS LOSSES VERSUS DOLLAR, TRADES BELOW $1.31
RTRS -EURO FALLS TO FRESH 9-MONTH LOW VERSUS STERLING OF 84.38 PENCE
If in doubt blame a Eurozone politician.
Still it’s better than anything we’ve managed to come up with. If you can do better please your thoughts in the space below. We guess there are Iran tensions doing the rounds too.
The gap between summit rhetoric and reality – FT Alphaville