Euro Falls to 3-Month Low as Cyprus Rejects Bank Levy
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The euro fell to a three-month low against the dollar as Cyprus’s parliament voted down an unprecedented bank-deposit levy, fueling speculation the nation’s bailout will falter.
The dollar strengthened versus most of its 16 major counterparts as the Federal Reserve began a two-day meeting projected to maintain its monetary stimulus. The yen erased losses and rallied versus all of its 16 most-traded person haven demand. The 17-nation currency is set for its longest run of declines against the Swiss franc in more than two years.