Euro falls as debt fears resurface

The euro has fallen against the dollar amid renewed debt fears in the region as the yield on Portugal's treasury bill sale climbed to nearly double that of its last issuance.

In morning trading, the single currency dropped to $1.3230, from $1.3308 yesterday, before recovering slightly to $1.3237 by midday, marking its third day of decline against the greenback. The euro also fell against the yen for a second day running. The fall of the single currency comes as euro sovereign debt fears resurface once again. Today, Portugal successfully raised €500m in a treasury bill sale but the average yield of 3.7% was nearly double that of its last auction in September in a sign investors are still concerned over the debt laden country's economy. In a further sign of ...