Festering worries about Greece’s fiscal shape are helping cement the euro’s worst quarterly performance ever. After shedding 12% in 2014, the most since 2005, euro/dollar was on pace to lose more than 10% in the opening quarter of 2015. Greece’s fiscal coffers are said to run out of money by April 20 unless Athens can reach a deal with its lenders. With Greece hogging the spotlight, the euro hasn’t been able to benefit much from constructive data pointing towards recovery gaining traction. Monday showed the rosiest economic sentiment since July 2011. Today showed inflation slowed to a decline of 0.1% in March from -0.3% in February while unemployment improved a tick to 11.3% in February from 11.4% in January. The euro’s unenviable status as a QE currency should leave it vulnerable to further losses over the foreseeable future.
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