Euro Drops Most in Almost Month on Concern Debt Crisis Worsening
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The euro fell the most in almost a month against the dollar as Moody’s Investors Service cut Portugal’s government bond rating to junk and European banks faced more stringent stress tests.
The Swiss franc rose this week against all of its major counterparts as Europe’s debt crisis spurred demand for a refuge. The dollar fell against the yen for the first time in three weeks after the U.S. payrolls report showed employers added the fewest jobs in nine months. President Barack Obama prepared to meet with congressional leaders tomorrow in a rare Sunday meeting on cutting deficits and raising the debt limit.