Euro Weakens as Rajoy Says Spain Not Under Aid Pressure
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The euro declined for a second day against the dollar after Spanish Prime Minister Mariano Rajoy said his nation doesn’t feel under any pressure to ask for a bailout, fueling concern the debt crisis will be prolonged.
The 17-nation currency dropped for the first time in seven days versus the yen on speculation this week’s European Union summit in Brussels will fail to provide clarity on potential financial aid for Spain. The pound gained against the euro after the U.K. budget deficit narrowed. Canada’s dollar weakened to an eight-week low against its U.S. counterpart after September consumer prices data trailed forecasts.