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Euro Near Four-Month Low on Cyprus Contagion Concern; Yen Gains

The euro traded 0.2 percent from a four-month low versus the dollar on concern that future European bailouts could include the kind of bank deposit levies imposed on Cyprus.

The 17-nation currency headed for its biggest weekly decline in seven with Italian political parties still deadlocked ahead of a deadline today for forming a government. The yen gained against most of its major peers before Bank of Japan Governor Haruhiko Kuroda appears before upper house lawmakers ahead of a policy meeting next week.