This is a graph of the Euro-Dollar exchange rate during Friday of this week. It does not make good reading if you are long Euro's. In fact the FTSE's 3.5% fall was not exactly a barrel of laughs either. To think the index is down on the year despite relatively good economic performance against last year.
Still, the Euro is in very deep trouble. The problem it has is existential. it is not as if people have not been saying that it won't work for a long time. Look at this article and comments I wrote more than 2 years ago, as soon as the financial crisis hit it was a big flashing red for the survival of the Euro. OK, along with many people I thought it would be Spain or Italy to go down first, but the point is that many people have been expecting a Euro flop. Now it is here many traders are short the Euro. It is the Markets Vs Germany.