Euro Sinks on Debt Crisis Plan Concern, Pares Loss After Call
This article is for subscribers only.
The euro weakened to almost a seven-month low against the dollar after European officials failed last week to offer a plan to halt the region’s debt crisis as Greece struggles to avoid default.
The 17-nation currency pared losses against its major counterparts after the Greek Finance Ministry said a conference call with the European Union and International Monetary Fund was productive. The dollar rose against all its major counterparts except the yen as Treasury two-year yields fell to a record before the Federal Reserve begins its two-day meeting tomorrow. Norway’s krone fell as oil prices declined.