Euro Down To Its Lowest In A Year (ULE)

The euro hit its one-year low against the U.S. dollar in trading today. The 16-nation currency dropped as fears about the debt crisis in Greece spreading to other vulnerable economies in the euro zone mounted.

The euro was down 0.4% to 1.2932 against the U.S. dollar. Kenneth Broux, an economist at Lloyds Banking Group, said, “The questionable way the Greek crisis has been handled and concerns about the peripherals are weighing on sentiment. I expect euro weakness to remain in place.” On Tuesday, the ProShares Ultra Euro (ETF) (NYSE: ULE) closed 2.87% lower at $24.67 in trading.