For weeks, global markets have been volatile and nervous, with only occasional short-lived bounces interrupting a generally downward trend. The reasons for the slide — concern about the wider fallout from Europe’s debt problems and worries about China’s efforts to control of the pace of its booming growth — are likely to keep dogging financial markets. The euro has been a particular victim of the European debt crisis. Early in Asian trading on Thursday, the single European currency slipped to $1.2153, just above the four-year low of $1.2144 it had touched last week. By early afternoon in Asia, it had recovered somewhat, to about $1.225. It was trading at 110.3 yen, having earlier sagged as low at 109.2 yen.
Since the start of the year, the euro has slid nearly 15 percent against the U.S. dollar, 17.5 percent against the Japanese yen and 4.5% against sterling. Many analysts predict that the European currency’s decline has some way to go, with some saying that the euro could drop to as low as $1 against the greenback.
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