Euro Tumbles Most in Year After Report Greece May Drop Currency
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The euro tumbled the most in a year against the dollar on speculation Greece may stop using the currency, bolstering concern the nation’s debt crisis will spread through the region.
Europe’s shared currency fell against all of its 16 most-traded peers even after Greece denied a report in Der Spiegel magazine that the European Commission called a meeting to discuss the situation. Futures traders raised bets as of May 3 to an almost four-year high that the euro would gain against the dollar. The greenback rose versus the yen after U.S. employers added more jobs than forecast.