Euro Weakens to Two-Week Low Versus Dollar After Spain’s Budget
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The euro fell to a two-week low against the dollar as Spanish ministers in Madrid unveiled a fresh round of budget cuts amid the prospect of a sovereign bailout.
The shared currency slid for an eighth day versus the yen, the longest streak in four months, after economic confidence in the euro area unexpectedly fell in September. The dollar weakened against most peers after claims for U.S. jobless benefits fell more than forecast. The pound rose for the first time in four days against the greenback after a report showed the economy contracted less than previously estimated.