Euro at Decade Low Versus Yen as Ministers Disagree on Fund
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The euro fell to more than a decade low against the yen as European finance ministers clashed about expanding the capacity of the European Financial Stability Facility.
The 17-nation currency slid to an eight-month low against the dollar as incoming European Central Bank President Mario Draghi said a lack of confidence may be among the reasons for lenders’ “funding problems.” The yen rose against all its major counterparts as Japan’s biggest manufacturers remained below levels seen before a record earthquake in March. The U.S. dollar was the best performer after the yen as the Standard & Poor’s 500 Index fell below its closing low for the year.