Exchange traded funds that follow the movement of the euro versus the U.S. dollar have seen losses accelerate on signs European leaders aren’t doing enough to stem the debt crisis.
CurrencyShares Euro Trust (NYSEArca: FXE) is down about 7% over the past month.
The euro fell to more than a decade low versus the Japanese yen on Monday amid wrangling among officials over increasing the size of Europe’s bailout fund, Bloomberg reported.
Incoming European Central Bank President Mario Draghi said a lack of confidence may be among the reasons for lenders’ “funding problems.”