Euro Weakens to Decade Low Versus Yen on European Debt Concerns

The euro fell to a decade low against the yen on speculation European policy makers are struggling to resolve the debt crisis as economic growth slows, damping demand for the region’s assets.

The 17-nation currency slid versus most of its major peers on uncertainty over whether Greece will get another round of funding to avoid default. The dollar and yen rose as U.S. Treasury Secretary Timothy F. Geithner said failure to address the debt crisis may lead to bank runs. The euro rose from an eight-month low versus the dollar after a German report showed business confidence fell less than economists forecast. New Zealand’s dollar reached a six-month low against the greenback after a report showed the trade deficit widened.