Euro slips as focus returns to sovereign debt crisis |
| Reuters - Jul 28, 2011 |
The euro fell broadly on Thursday as lackluster European data and a jump in Italy's borrowing costs fueled fears the euro zone debt crisis is spreading.
The euro's losses, however, could prove limited if U.S. lawmakers fail to reach a compromise on a deficit reduction plan that would head off a default.
A Republican deficit reduction plan headed to a close vote in the U.S. Congress on Thursday and the White House urged divided lawmakers to clinch a compromise to head off the risk of a debt default by the world's largest economy. [ID:nN1E76R004]
The euro is one of the few currencies not benefiting from the threat of America losing its triple-A rating as investors become increasingly doubtful last week's second bailout for Greece will keep the crises from spreading to Italy and Spain.
Read Full Article from Reuters
- Posted: 2011-07-28 17:21:16
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