The euro slid to a four-year low on Monday on sovereign debt worries and fears that planned belt-tightening measures will hurt euro zone growth, fuelling concerns the single currency may face free-fall.
The euro extended its losses after falling below the October 2008 low at $1.2330, where stop-losses from model accounts were said to lurk, and fell as far as $1.2234 on trading platform EBS, its lowest since April 2006.
It has fallen more than 7 percent against the dollar this month, and is about 14 percent lower for the year, making it the worst-performing major currency. The euro's next major trough on charts lies at $1.1640, a low hit in November 2005.
The continued fall in the value of the Euro makes the value of Spanish property to the UK based buyer much more appealing. Prices in Spain have already fallen up to 50% in many cases and the slump in the Euros value has made an additional 10% of difference in sterling terms.Add this page to your favorite Social Bookmarking websites
