Euro Drops as Chinese, French Data Weigh on Outlook
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The euro fell against the yen as reports showed industrial output shrank in France and exports and imports growth slowed in China, adding to concern Europe will struggle to avoid a recession.
Europe’s 17-member currency was within 0.5 percent of its lowest level in two years versus the dollar. It weakened against most of its 16 major peers after European Union Economic and Monetary Affairs Commissioner Olli Rehn said Spain will soon have to take additional measures soon to meet budget targets.