EURO IN TURMOIL: Single currency sinks amid Frexit and Greek debt crisis fears

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Unequalled hit €1.171 on Wednesday, as worried investors continued to sell off the eurozone currency.

The euro also strike down against the dollar to 1.066, reaching its lowest level in a week.

Investors are distressed over the growing possibility of a Marine Le Pen presidency in France, when federal elections take place later this year.

The anti-Brussels nominee launched her campaign this week and could lead to a French away out of the eurozone if she wins.

At the same time, the Greek debt crisis has in days gone by again flared up as the eurozone and International Monetary Fund clash beyond how to best save the struggling country’s economy.

Head of the European Leading Bank (ECB) Mario Draghi also added to pressure on the euro this week, after he recapitulated his commitment to the huge money-printing programme.

The policymaker also lashed out at be entitled ti from Donald Trump’s administration that Europe was deliberately moderate the currency for trade benefits.

Connor Campbell, financial analyst at Spreadex.com, suggested: «With Draghi disappointing the euro on Monday, an anti-EU presidential stand from Marine Le Pen and, perhaps most pressingly, the re-emergence of the debt calamity in Greece (something that never really went away, but that has not just returned to the forefront of investors’ minds) the region is having a pretty much negative return to the spotlight.

«Most of this angst has been cored on the euro itself, which fell another half a percent against the dollar and 0.2 per cent against the enclosure.»

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