The Euro continues to lose ground to other major currencies during early Wednesday trading in Europe. As investors process the full implications of yesterday’s ruling by the German Supreme Court, which effectively blocks the Bundesbank from participating in the ECB’s public sector purchase program, the single currency hit its lowest level in more than 3 years versus the safe haven Japanese Yen.
The German court’s decision is like a bucket of cold water thrown over those that expected greater cohesion and solidarity between the various member countries of the single currency to try and overcome the tough challenges ahead.
