The euro is falling again in forex trading on the currency market. Focus on sovereign debt and banking concerns in Europe is sending the euro much lower on the FX market.
Indeed, this Black Friday, the world's focus is not so much on the biggest shopping day in the U.S. as it is on the troubles plaguing Europe.
Now the the Irish have agreed to a bailout, reports Action Forex, focus is shifting to Spain:
Post the Irish bailout, which was triggered by bad bank debts, investors are treating banking problems as sovereign problems. Spain is at risk since it has to raise a combined EUR73bn in the first four months of 2011. This includes sovereign debt and bank debt.
Risk aversion is high, and forex traders are turning to the U.S. dollar. It should be a volatile U.S. session.
