Saturday 12 May 2012

Euro Near 3-1/2-Month Low vs Dollar on Greek Uncertainty


The euro slid to a 3-1/2-month low in volatile trade on Friday as political uncertainty in Greece and hefty losses disclosed by U.S. bank JPMorgan Chase spurred risk aversion.
The euro has dropped against the dollar in eight of 10 sessions for a cumulative 2.4 percent decline, hit by the turmoil in Greece. Inconclusive election results last Sunday threw the country into political disarray and raised the risk that it could exit the euro zone and the European Union.
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