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Thursday, 11 Nov 2010
Debt Woes Plague Euro
The euro slid to the lowest level in more than a month versus the dollar as concern intensified that euro-zone countries will not be able to cover the debt of weaker economies in the region. A decline in equities reduced risk appetite further.
The common currency dropped to $1.3653, from $1.3783 yesterday. It touched $1.3638, its weakest level since Oct. 5. The euro also dropped to 112.54 yen, from 113.41 yesterday. The dollar rose to 82.55 yen, from 82.28.
The Australian dollar fell to the lowest level against the dollar in a week after the nation's unemployment rate unexpectedly increased in October. The Australian currency depreciated to 99.79 U.S. cents at 10:56 a.m. in New York, from $1.0053 yesterday.
