Euro Plunges as Greek Leader Loses Support Amid Debt Deadlock
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The euro dropped the most in more than a month against the dollar after the Greek prime minister’s government lost political support as the European Union struggled to break a deadlock on a second financial rescue for the nation.
Europe’s shared currency fell versus most of its major counterparts, except for Sweden’s krona and Norway’s krone, which dropped as commodity prices slumped. Demand for assets linked to growth also eased after reports showed slowing manufacturing in the U.S. Sterling fell versus the dollar after a report showed Britain’s jobless claims rose in May more than economists forecast.