Debt worries impact euro and other currencies
The euro declined significantly, nearing its lowest levels in 17 months, due to political and financial pressures in the Eurozone—particularly from rising levels of debt and political stalemates in France, as well as the upcoming early elections in Spain. Meanwhile, the dollar continues to rise, supported by increasing yields on US Treasury bonds. Analysts expect the euro to remain weak, falling below $1.10, as the prospects for tightening European monetary policy improve and oil prices decline.
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