First the Euro’s demise is a bad thing, now it’s a good thing???
For much of the past year, the euro surprised many investors by remaining resilient in the face of an intensifying crisis throughout Europe. But as 2012 has gotten under way, the euro’s Teflon is showing signs of wear.
The euro Thursday fell to its lowest level against the dollar since September 2010, hitting $1.2790. In the past two weeks, the currency has lost 2% and it is down almost 10% since late October.
Analysts and investors are now pondering whether the decline marks the start of an important shift in the euro’s behavior—where the currency no longer moves in lock step with typically riskier investments, such as stocks and currencies from emerging-market or commodity-producing countries.