EURO $1.22

The euro just dipped to $1.22 for the first time since July 2010, reports Bloomberg’s Josh Lipton.

Markets are selling off as concerns about a global economic slowdown are compounding.

Overnight, South Korea and Brazil both slashed their benchmark interest rates.  Japan expanded its easy monetary policy.  And moments ago, we learned Greece’s unemployment rate continues to climb.

Meanwhile, Italy had a debt auction this morning that went better than it did a month ago.  Nevertheless, Italian borrowing costs have been on the ris this morning.

Here’s an intraday look at the euro courtesy of Bloomberg:

euro 1.22

Photo: Bloomberg

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