Euro Falls to Lowest This Month Versus Dollar on Greece Bailout Deadlock
By Catarina Saraiva and Garth Theunissen – Jun 15, 2011
The euro dropped to its lowest level this month against the dollar as the European Union struggled to break a deadlock on a second Greek financial rescue.
Europe’s shared currency remained weaker after the cost of living in the U.S. rose more than forecast in May and a measure of manufacturing in the New York region unexpectedly shrank in June. Sterling fell versus the dollar after a report showed Britain’s jobless claims rose in May more than economists forecast. Australia’s dollar fluctuated after the Reserve Bank of Australia’s governor said policy makers will need to increase interest rates.
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