Euro Snaps Seven-Day Rally Versus Yen Amid Crisis Talks
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The euro snapped a seven-day stretch of gains against the yen as European finance ministers met in Luxembourg to discuss the region’s sovereign-debt crisis amid speculation Spain is struggling to avoid a bailout request.
The shared currency slid versus most major peers after data showed German industrial production declined, adding to evidence the fiscal turmoil is weighing on growth. German Chancellor Angela Merkel visits Greece tomorrow for the first time since the crisis began in 2009. The yen climbed as investors sought a haven. South Africa’s rand sank to the weakest level against the dollar in more than three years amid spreading labor strikes.