Earlier, euro saw a bit of a tentative rally in Forex trading, gaining a little ground against the US dollar. Now, though, all of that momentum is gone, and euro is heading lower.

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The Great Britain pound weakened today as the inflation report showed that outlook of the nation’s central bank is pessimistic, while the unemployment rate rose more than was expected.(...)
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Yen is mostly lower today as risk aversion sets in after a brief glimpse of optimism yesterday. Even though the BOJ has announced that it will keep its benchmark rate practically at zero, there is enough economic concern that the yen remains in demand.

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The Canadian dollar extended its decline for the third consecutive session today as the negative market sentiment, caused by the difficult situation in the European Union, outweighed the fundamentals that weren’t all bad. (...)
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The Australian dollar declined today, falling for the third straight session, as the renewed concerns about Europe’s sovereign debt crisis sapped investors’ demand for higher-yield.(...)
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The South African rand declined today as worries about the European crisis and its impact on the global economy deepened, reducing demand for higher-yielding currencies among investors.(...)
Read the rest of South African Rand Falls as Europe Hurts Market Sentiment (56 words)