Euro Declines As Markets Still Worried About Fiscal Problems In The Euro Zone (ULE)

The euro dropped after making some initial gains in trading today. The 16-nation currency fell even as an agreement was reached upon the bailout package for debt-laden Greece. Investors are still worried about the implementation of the aid package and fiscal problems in other euro zone countries.

The euro fell by 0.4% to 1.3232 against the U.S. dollar. Unicredit currency strategist, Roberto Mialich, said, “The market is worried about the ability for Greece to implement draconian measures and is waiting for the plan to be approved by each country.” On Friday, the ProShares Ultra Euro (ETF) (NYSE: ULE) had closed 1.17% higher at $25.91.