Euro Down To 11 And A Half Year Low, Yen On The Upside

The Euro defied all odds and went on to slide against the Japanese Yen and a basket of other currencies, hitting its lowest level in more than 11 and a half years in early trading on Monday.
The drop came after pressure mounted over fears that Spain may require a full sovereign bailout.
The news was welcomed by the Japanese Yen which went on to gain more than one percent during the Asian Session, with the troubled Euro hitting its lowest level since November 2000.