Euro Declines as Risk Appetite Ebbs on Debt Crisis, Economy
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The euro reached the lowest level in almost three weeks amid a growing divide over Europe’s new bailout strategy and data that showed the region’s three-year-old sovereign-debt crisis is weighing on its economy.
The dollar rose amid higher haven demand. The U.S. securities industry canceled stocks trading today and tomorrow as Hurricane Sandy headed toward the New York City area. Retail sales in Spain slid 11 percent in September from a year ago, a report showed, and the nation’s central bank set up a so-called bad bank to buy impaired property assets. The euro touched a two-week low versus the yen after German Finance Minister Wolfgang Schaeuble rejected another Greek debt restructuring.