The euro has reached an 11-year low against the yen and has fallen sharply against the US dollar as investors sold the single currency following S&P's mass eurozone downgrades last Friday.
The currency slipped 0.4% during today's session to 97.19 yen, near an earlier 11-year low of 97.04 yen which was seen on trading platform EBS, according to Reuters. It also fell against the US dollar, and was precariously close to a 17-month low against the greenback at $1.2671. The figure is slightly above Friday's 17-month low of $1.2667 as news of the downgrades emerged. The euro's decline has been attributed to fears the bloc's EFSF bailout fund may be next to lose its coveted AAA-credit rating. European markets have had a subdued day of trading, but no major sell-offs hav...
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