Euro Touches 4-Month Low as Schaeuble Says Crisis to Last
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The euro touched a four-month low and fell for a third straight week against the dollar as German Finance Minister Wolfgang Schaeuble said Europe’s financial-market turmoil may last another two years.
The 17-nation currency reversed its losses today as a technical indicator signaled its recent decline came too fast. The dollar and yen posted weekly gains against most of their major counterparts as investors sought safer assets. The euro declined for a fourth week versus the yen as a meeting of Group of Eight nations’ leaders began.