The underlying mood is ruled by uncertainty, with expectations of a Greek exit from the Eurozone still building ahead of a second round of elections, expected June 17, and the cost of insuring Spanish sovereign debt against default hitting another record high. [Why Currency ETFs Haven’t Caught on Yet]
In a note, Morgan Stanley said the growing disparity between different euro-zone government bonds, after yields hit record lows this week in safe-haven countries like Germany, while hovering near levels deemed unsustainable in others, could hurt the euro in the long run. [Euro, Stock ETFs go Their Separate Ways]
Guggenheim CurrencyShares Euro Trust
Tisha Guerrero contributed to this article
Read the disclaimer; Tom Lydon is a board member of the funds for Guggenheim Investments.