Euro Weakens as Fitch Adds to Debt Crisis Concern; Pound Drops
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The euro weakened for the first time in three days against the dollar and the yen as Fitch Ratings added to concern the region’s debt crisis will spread.
The euro slid versus 14 of its 16 most-traded counterparts after Fitch’s head of sovereign ratings, David Riley, said the European Central Bank should boost bond purchases to avert a collapse of the shared currency. The bank meets tomorrow. German data showed the region’s largest economy may be on the brink of recession.