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Euro Slides After Greek Voters Reject Austerity; Yen Strengthens

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The euro dropped to a one-week low against the dollar as Greeks voted against yielding to further austerity, raising the risk of an exit from the currency union that would call into question the bloc’s integrity.

Sixty-one percent of Greek voters backed Prime Minister Alexis Tsipras’s rejection of further spending cuts and tax increases in a referendum, data on the Interior Ministry website show. Turnout was 62.5 percent. The yen strengthened against all its 16 major counterparts as the Greek crisis spurred demand for haven assets. Australia’s dollar fell below 75 U.S. cents.