EUR/USD fell below 1.3400 and fell to an 8-month low of 1.3385

On Monday (September 26th), the Asian market traded in early trading. The euro/dollar oscillated and fell below the 1.3400 integer mark and fell to an 8-month low of 1.3385. It is currently trading at 1.3395. The Asian stock market extended its losses in intraday trading, which made the risk assets such as the euro worsen.

At the G20 finance ministers' meeting held in the United States last week, all countries stated that they will work together to meet the new challenges faced by the international economy, including the deterioration of the debt crisis, the fragile financial system, and market turmoil. , lack of economic growth and high unemployment. However, this good news has a very limited effect on stabilizing market sentiment.

In a situation where market sentiment is very unstable, the remarks of Germany's deputy finance minister once again weighed on market sentiment earlier in the day, aggravating the market's concerns about the European debt issue, risk aversion again rising, and the risk currency Euro under pressure.

On Monday, Germany's deputy finance minister said that if the international lenders are not optimistic about Greece's revised measures, they will not allocate funds to Greece. At the same time, he also said that they do not think that they will be the next one at the Euro Group meeting on October 3. A decision was made on the allocation of Greek aid funds.

In addition to the European debt problem continues to suppress market sentiment, the signs of a slowdown in global economic growth are also gradually increasing, which also played a role in boosting the rise of risk aversion, investment speculator Soros said that the current situation than Lehman was much more dangerous when it was. The government must stabilize the entire system at any cost because other alternatives are horrible. In addition, the U.S. economy is currently at the bottom.

Another economist who is known for predicting the "economic crisis", Lubini, said through Twitter that the United States and Europe are in a recession and that any policy has been useless. The question now is whether the G7 alone is in a slow recession or whether a serious recession has dragged the world into another crisis.


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