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Euro Falls Below $1.20 on Fresh Debt Fears

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Bradley Davis
Wall Street Journal
Friday, June 4, 2010

The euro dropped to its lowest level in four years after a weaker-than-expected U.S. jobs report added to fresh concerns over euro-zone sovereign debt, leading investors to file out of riskier assets.

The euro also dropped to its lowest-ever level against the Swiss franc, triggering some investors to keep an eye out for a possible fresh round of Swiss National Bank intervention to temper franc strength as investors turn to the safe haven and abandon the common currency.


Early morning, the euro was trading at $1.20 from $1.2158 late Thursday in New York. The dollar was at 91.86 yen from 92.63 yen, while the euro was at 110.29 yen from 112.62 yen. The U.K. pound was at $1.4502 from $1.4616 and the dollar was at 1.1584 Swiss francs from 1.1567 francs.

The ICE Dollar Index, which tracks the greenback against the trade-weighted basket of currencies, was at 87.734 from 87.240.

Full story here.

This article was posted: Friday, June 4, 2010 at 9:19 am

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