Euro Weakens as Leaders Ask Merkel to Contain Debt Crisis

The euro fell from the strongest in almost a month versus the dollar as German Chancellor Angela Merkel faces rising pressure from Group of 20 leaders to contain the region’s crisis, which threatens global economic growth.

The 17-nation currency weakened as Spanish 10-year bond yields rose above 7 percent and as Merkel said the new Greek government shouldn’t be granted additional budget leeway. Brazil’s real fell against most of its major counterparts as economists lowered outlooks for the nation’s growth. New Zealand’s dollar rallied to a six-week high versus the greenback after the country’s service industry grew.