Euro Weakens on Greek Debt Concerns; Oil, Copper, Wheat Decline
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The euro weakened for the first time in three days versus the dollar, while oil and copper fell in New York on concern European governments will struggle to resolve the region’s debt crisis amid a slowing global recovery.
The euro declined against 13 of 16 major peers at 4 p.m. in New York. The yield gap between Portuguese and German 10-year bonds climbed to a record and Italian yields rose as the government sold debt. Crude oil lost 0.2 percent, copper futures broke a four-day winning streak and wheat sank 4.9 percent in Paris. The Stoxx Europe 600 Index lost 0.1 percent as EON AG and RWE AG dropped after German Chancellor Angela Merkel’s coalition endorsed a plan to close all atomic-power plants by 2022.