Euro Reaches Decade Low Versus Yen Amid Greece Debt Concern

The euro touched the lowest level in more than a decade against the yen amid fading optimism that European policy makers will resolve the region’s debt crisis.

The 17-nation currency reached an eight-month low versus the dollar after European governments signaled bondholders may have to take bigger losses on Greek sovereign debt. The euro pared declines as its 14-day relative strength index versus the dollar and the yen were both below the 30-level that some traders see as signaling an asset’s price has fallen too rapidly and may be poised for a rebound.