Euro Drops Versus Yen on Evidence of Slowing European Economy

The euro slid against the yen as Europe’s industrial output rose less than economists forecast and Spain’s financial institutions borrowed a record amount from the European Central Bank.

Sterling touched a two-month high versus the dollar as the U.K.’s unemployment fell and the number of jobless benefit claimants dropped to the lowest in a year. The euro rallied yesterday against the dollar after Greece sold Treasury bills at a rate below the 5 percent charged by the European Union when it rescued the nation from default.