Wall Street Journal
July 11, 2011
Growing concerns that Italy and Spain's debt markets could echo the fate of already bailed-out euro-zone countries sent the euro to a seven-week low against the dollar and a record low against the Swiss franc.
An increased possibility of a Greek debt default came with a report that a French-led debt restructuring deal could collapse, sending investors out of the common currency toward safe havens.
The euro fell below $1.40 for the first time since May 23 in its steepest one-day decline in nearly a month. The common currency also dropped to a record low 1.1672 francs. It was able to rebound slightly from those bottoms, but was still sharply lower on the trading day.
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