Euro (FXE) Plunges To All Time Lows

The Euro (EUR) continued to fall today across the board against almost all of the major currencies on the persisting worries over the sovereign debt crisis in Europe. Investors still remain extremely cautious about the European single currency after yesterday's warnings by Moody's and Fitch that they might downgrade Portuguese and Greek government debts respectively. As a result, the Euro fell to record all time lows against both the Swiss Franc (CHF) and the Australian Dollar (AUD) while trading significantly lower against the US Dollar (USD) and the Japanese Yen (JPY) too. The EUR/CHF currency pair tumbled from 1.2580 to 1.2437, the lowest level ever, and currently is trading at 1.2460s in a very slow Asian trading session. The EUR/USD, meanwhile, fell from 1.3180 to 1.3078, and the EUR/JPY dropped from 110.10 to 109.20. The other record braking currency pair of today, the EUR/AUD plunged from 1.3185 all the way to 1.3072, which represents the lowest level since the Euro has been created. The pair has recovered a small part of the losses, however, and currently trades at 1.3110s.