Fresh political tremors within the eurozone have upset the stability the single currency had been enjoying since the latter part of 2012.
Prime minister of Spain Mariano Rajoy is at the centre of corruption allegations, as the leader is facing opposition calls to resign amid contested reports of illegal payments.
The politician has denied any wrongdoing and is travelling to Berlin today (February 4th) to meet with his fellow eurozone leaders for a raft of meetings ahead of the European Union Summit on February 7th-8th.
Opposition leader Alfredo Perez Rubalcaba said the prime minister should step down after reports in the newspaper El Pais said Mr Rajoy or members of his People's Party received illegal payments.
The prime minister replied: "It's false, I have never received or shared out illegal payments within the party or anywhere else."
At 08:40 GMT, the euro slipped versus the pound and dollar to €1 buying £0.865 and $1.360.
Learn about the dollar and forex trading at City Index.