Published by Jamie JemmesonThe euro has tumbled to $1.3298 in foreign exchange trading today (November 25th), its lowest level in seven weeks.Concerns about the European economy were increased on Wednesday as an auction of German bonds produced worse-than-anticipated results, increasing doubts about the stability of even the region's most secure nations, reports Reuters.The news source suggested that some analysts believe further declines may be ahead for the 17-nation currency and quotes G10 FX analyst for UBS in Singapore Gareth Berry as saying: "Rather than reallocating within the eurozone, international asset managers are tending to pull out now. That's consistent with some of the flows we have been seeing."He added that although a "panic" has been avoided it is noticeable that the eurozone is being avoided by international asset managers.This week the currency has tumbled by 1.5 per cent versus the greenback and fared little better against the Japanese yen to trade at 103.00, up 0.1 per cent on the previous day but only slightly about a seven-week low of 102.71 seen yesterday.Meanwhile, the outlook appears brighter for the dollar, as according to Bloomberg it achieved its best performance since October 6th on the Dollar Index - 79.31. The news source noted that this occurred after Portugal and Hungary's credit ratings were slashed by Fitch Ratings and Moody's Investors service respectively.A report from the Conference Board due on November 29th is expected to indicate that this month confidence has increased about the US currency.IG Markets in Melbourne market analyst Cameron Peacock stated that money will "trickle out of the yen and into the US dollar" once there are signs of the economy picking up.Investors may be keen to follow the fallout of the worst German bond auction since the euro began in the coming days, as some experts are speculating about what it will mean in the long-term for the eurozone.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site