Euro Trades Near 7-Week Low on Concern Irish Crisis May Spread
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The euro traded near a seven-week low against the dollar amid concern a failure to craft a rescue package for Ireland will allow the nation’s banking crisis to spread to other member states of the common currency.
The dollar rose versus the yen for a seventh straight day, marking a six-week high and the longest run of gains since 1995. The Australian and New Zealand dollars traded near the lowest levels in more than two weeks as declines in stocks and concern that China will take measures to cool inflation damped demand for higher-yielding assets.