Mounting concerns regarding the state of the eurozone coupled with stifled global economic growth have pushed down the metal in commodity trading, Reuters reports.

Copper for three-month delivery was trading at $7,613.25 a tonne this morning on the London Metal Exchange, with the product on track for a 0.5 per cent weekly decline.

However, the news provider revealed copper prices are forecast to rally in the coming months due to increasing demand from China, helping to offset the recent priority which has been placed on European copper consumption.

This month's most-traded copper contract was on the Shanghai Futures Exchange, falling by 0.1 per cent to $8,700 per tonne.

Earlier this year, ongoing fears regarding increasing oil prices across the globe were pushing down copper prices in commodities trading.

At the end of February, futures for the industrial metal were trading around $3.839 per pound.

Reuters reports the single currency had gained 0.3 per cent to stand at $1.2575 by 09:09 BST, although investors feel the likelihood of further gains remains slim.

"We think if Greece does not exit the eurozone, the euro will see a gradual decline to $1.23 in coming months," commented Geoff Kendrick, currency analyst at Nomura.

However, Mr Kendrick added that should Greece leave the single currency, there could be a much sharper decline, with the euro predicted to hit $1.20 by the end of the second quarter and $1.15 by autumn.

Earlier this month, a lack of significant progress by European leaders on tackling the region's economic woes meant the currency went into freefall, dropping to its lowest position against the greenback in 24 months at $1.25155.

Caroline Keen of BNY Mellon highlighted the major impact that a failing eurozone could have on indices across Asia, with Europe remaining a key market for Asian goods and one of the most important financial centres in the world.

She commented: "In Europe, events have clearly been negative for Asia, both in terms of sentiment and because Europe remains Asia's largest trading partner ... We do not believe the situation will resolve itself in the near term."

As a result, Ms Keen noted a greater dependency upon intra-Asian trading would be highly beneficial for the region in the future, while increasing demand from Chinese consumers could provide one answer to the region's problems.

Japan's Nikkei 225 fell yesterday (May 24th) as a result of ongoing concerns regarding the future participation of Greece within the single currency framework.

The index closed down by 0.3 per cent at 8,532.05.

Reuters reports the index lost 0.3 per cent to stand at 8,532.05 by the close of trading today, as investors remain concerned of a disorderly Greek exit from the eurozone.

However, European leaders have urged Greek ministers to stay the course in terms of ongoing austerity measures in order to stabilise the eurozone for the future.

"There was nothing massively negative coming out of the EU summit. The US markets rebounded ... There is no real flow going through," a senior dealer at a European brokerage told the news provider.

It follows a poor week for the Nikkei as the market dipped to its lowest point in four months at the close of trading yesterday.

Should the Nikkei continue in its downward momentum for the remainder of the week, this will be the eighth consecutive week in which it has declined.

FX Street reports investment was up by 14.2 per cent annually in Q1 2012 and as a result, the pairing has increased from a low of 1.5640 to 1.5660.

However, the pairing remains below recent levels of 1.57 after it fell below this psychologically-important barrier yesterday.

"The outlook here remains absolutely bearish after yesterday's break below 1.5730 support and my outlook is negative for a sell-off towards 1.5501," Deltastock.com analyst Stoyan Mihaylov wrote in a note.

Earlier this month, the news provider reported a fall in the GBP/USD pairing as a result of worse-than-expected deficit data from the UK.

The deficit had been forecast to stand at -£8.4 billion by now, but government figures revealed it is actually higher at -£8.564 billion.

A lack of significant progress emerging as a result of the EU summit and fears over the continued participation of Greece within the currency have left traders uncertain as to the future of the euro.

European leaders urged the Greek government to stay the course in terms of austerity and bailout measures, but it remains to be seen what the end result of political unrest within the country will be.

A client note from analysts at BNP Paribas revealed: "With a Greek exit once again being discussed, the pressure on the euro should continue, especially with the lack of clarity on any of the pressing issues."

As of 07:06 BST, the single currency stood at $1.2574 - its lowest level since July 2010.

Yesterday, Reuters reported the single currency dipped considerably in the run-up to the latest EU summit, as investors predicted the meeting would have little impact on the eurozone's ongoing economic woes.

The market lost two per cent by the end of trading this morning as traders remain unsure as to the outcome of the upcoming EU summit today and whether European leaders can bring the region's finances back into check, Reuters reports.

Furthermore, a climbdown by the Bank of Japan from its stance of a strong monetary easing policy also impacted the index.

"This is very speculative selling led by futures ... There is no active trading in the market, so it's futures selling by hedge funds," said Takashi Hiroki, chief strategist at Monex Inc.

Earlier this week, the Nikkei made gains as investors looking to capitalise on recent falls in the market over recent weeks.

The index grew by 1.1 per cent yesterday on the back of investor activity, but this would now appear to have been short-lived.