Euro falls most vs dollar in 15 months on Italy debt

The euro fell the most in 15 months against the U.S. dollar on Wednesday, and fears Italy could be the next euro zone country to seek a financial bailout suggested more losses to come.

Italian government bond yields soared above 7 percent after clearing house LCH.Clearnet SA raised the level of collateral needed for those holding the country's debt. Investors view a 7-percent yield as unsustainable, and both Portugal and Ireland were bailed out after their bond yields exceeded that level.

Investors feared prolonged political instability in Italy could cause delays in economic reforms, while the euro zone and international lenders would struggle to assemble a bailout large enough for Italy, the euro zone's third largest economy.

Read Full Article from Reuters

- Posted: 2011-11-09 14:29:47

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