Euro falls to four-year low

The euro pared earlier losses after European stocks staged a turnaround and moved higher.

The European currency had plummeted to a four-year low Monday morning as ongoing debt concerns prompted a flight to the safety of the U.S. dollar.

What prices are doing: The dollar rose 0.1% against the euro to $1.2347. Earlier, the euro crashed through the key technical level of $1.23, falling to a four-year low of $1.2234.

The dollar rose 0.5% versus the British pound to $1.4467. It was up 0.1% against the Japanese yen at ¥92.53.

Read Full Article from CNNMoney

- Posted: 2010-05-17 11:18:30

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