US Mortgage Troubles Now Affecting Euro

The US subprime mortgage and credit sectors are in dire straits, which has investors around the globe scrambling to save their money. From Europe to Asia, everyone is experiencing shockwaves. Now, the euro can be counted amongst the Australian dollar and British pound sterling as an increasingly weakening currency. According to Reuters:

The euro hit a six-week low versus the dollar and a four-month low against the yen on Tuesday on a Spanish press report that Santander (SAN.MC: Quote, Profile , Research) is facing $2.2 billion euro exposure to high-risk U.S. loans.

Read more: Euro falls as European exposure to US credit weighs