Euro Tumbles to 7-Week Low on Heightened European Debt Concern
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The euro tumbled to a seven-week low against the dollar and slid versus the yen as rising Italian bond yields stoked concern Europe’s sovereign-debt crisis in deepening.
The euro traded near a record low against the Swiss franc as euro-area finance ministers vowed fresh steps to ensure debt sustainability for Greece, including enhancements to the main bailout fund. The yen rose against most its major counterparts and jumped to an almost three-week high against the dollar. Norway’s krone and Canada’s currency declined as crude oil fell.