- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7811 EUR (-0.00851, -1.078%)

The euro fell to a one-month low against the dollar on Friday as eurozone sovereign debt worries continue to factor in. In an interesting reversal, the euro fell from a three-month high against the dollar to a one-month low as concerns over eurozone sovereign debt make headlines and fears over absent global growth incited haven demand for the US dollar. This fall came in spite of positive second-quarter economic data from Germany.

US Dollar Euro (USDEUR) Exchange Rate

The euro’s brief gains were quickly offset, in part due to the lacklustre results in an Italian bond auction, which prompted a further widening in sovereign eurozone spreads, not to mention dismal economic data from Southern Europe. This morning, the euro has started to pare its losses with movement back above $1.28. This could prove unsustainable though with investor optimism mostly absent.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
Sterling was able to halt its last week’s decline against the dollar at about $1.56, off from its recent high of $1.60. The US dollar is, of course, favored as a safe haven currency as as so-so Italian bond auction and weak consumer data feed worries that slow US economic growth could delay a global recovery.

British Pound Euro (GBPEUR)
Sterling closed about 1.22 again at the end of the week, marking a six-week high against the euro. Concerns about the health of eurozone economies and their debt-laden state are still putting downward pressure on the single currency.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.