Economics
Euro Falls to Two-Week Low on Spain Growth Concern; Krona Drops
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The euro fell to a two-week low against the dollar after Spain’s bonds dropped and the central bank said gross domestic product declined this quarter, stoking concern the region’s debt crisis is worsening.
The 17-nation currency weakened for a seventh day against the yen after finance ministers from Germany, the Netherlands and Finland said Europe’s rescue fund should assume a limited role in banking recapitalizations. The dollar and yen rose against their most-traded counterparts on speculation central banks around the world will struggle to revive growth, spurring demand for safer assets. Sweden’s krona declined after a report showed consumer confidence fell more than economists forecast.