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Euro Declines Against Dollar, Swiss Franc Amid Cyprus Turmoil

The euro weakened against the dollar and the Swiss franc after euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as part of a rescue plan for the country.

Europe’s 17-nation shared currency slid 1.1 percent to $1.2932 at 6:26 p.m. London time. It declined 0.8 percent to 1.2170 Swiss francs.

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