American focus: Euro drops again

During the American session, the euro rose slightly after the euro-zone finance ministers agreed on the conditions by Spanish banks, and on the background data, which showed growth of industrial production in Italy and Britain. Support the single currency have the latest news from the European Union, where after meeting the Eurogroup agreed that the first tranche of financial assistance to recapitalize the banks in Spain in the size of 30 billion euros will go the country until the end of July 2012, which is somewhat reduced tensions and expectations for an early exit of the debt crisis. Also on the depreciation of the euro contributed by the Prime Minister of Italy Monti. According to him, even though the country does not need a bailout, as Greece was granted, it would not necessarily oppose the purchase of Italian bond mechanism of the European financial stability. The British pound rose after data showed that the volume of production in the country exceeded forecasts, and the trade deficit narrowed significantly. Thus, in the UK industrial production increased in May by 1.0% m / m, is expected to fall by 0.2% m / m At the same time, in May, Britain's trade deficit narrowed sharply against the shock of exports, recovered from the April aggressive fall. Swiss franc against the dollar has declined during the session, updating the yesterday's high and is now trading in the progress of values. Also during the session increased significantly against the euro, yen, due to increased demand for safe assets and uncertainty about the Council meeting of European finance ministers.