Euro at 3-1/2-month low as debt crisis fears rise |
| Reuters - May 9, 2012 |
The euro slid on Wednesday against the dollar to a 3-1/2-month low, falling for the eighth straight session, on concerns that political turmoil in Greece could threaten its rescue deal and as fears rise about the risks
posed by Spain's banks.
The euro also hit a two-and-a-half month trough versus the safe-haven yen as a jump in Spanish bond yields above 6 percen - one point away from levels deemed unsustainable - showed that investors were wary of the rising costs of fixing the country's banks, fueling fears the debt crisis could worsen.
"This is a continuation of a trend that has prevailed over the past week, with Greek political disarray likely to be a drag on the euro for the foreseeable future," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington, D.C.
Read Full Article from Reuters
- Posted: 2012-05-09 13:22:48
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
