Euro sulks after negative week; market nervously eyeing Spain

The euro got off to a subdued start on Monday, having suffered its first weekly decline in five after a recent batch of weak economic data underscored challenges facing euro zone policy makers. It stood at US$1.2975, within striking distance of last week’s trough around US$1.2920. Markets have so far showed little reaction to a report from German news magazine, Der Spiegel, saying euro zone members are preparing to allow the bloc’s permanent bailout fund to leverage its capital, so it can reach a capacity of more than 2 trillion euros and rescue big countries if necessary.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1045887/euro-sulks-after-negative-week-market-nervously