In addition to sliding US bank shares, renewed weakness in Central and Eastern Europe is helping weaken the euro, dealers report. A new plan to help bailout that region was announced overnight but against the present backdrop, government action seems to be being taken as counter-productive. Just look at US bank shares for evidence.
EUR/USD trades at 1.2620 after triggering stops in the 1.2630s. 1.2600 and 1.2555 are next supports below the market.
