From the Financial Times:
“Investors are jittery about Greece’s terrible finances and, to a lesser extent, concerned too about the outlook for Portugal, Italy and Spain.
“It has always been hard to be positive on the euro, and the political machinations of a 16-member currency union have not helped. When the euro has gained, it has often been about negative US factors rather than an upbeat view on Europe. This has even led to the single currency being nicknamed the “un-dollar.”
The euro is currently trading at $1.43, as opposed to $1.50 a few months ago. Nevertheless, travelers to Europe will quickly get the sense that most things cost at least a third again as much as in the USA.
