Reuters: US Dollar Report: Euro falls 1 pct vs U.S. dollar on debt concerns

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Euro falls 1 pct vs U.S. dollar on debt concerns May 30th 2012, 19:33 NEW YORK | Wed May 30, 2012 3:33pm EDT NEW YORK May 30 (Reuters) - The euro fell more than 1 percent against the U.S. dollar to its weakest point in nearly 2 years on Wednesday as investors sold the currency on increased concerns that Europe's sovereign debt crisis is becoming more acute. Borrowing costs on Italian debt surged on Wednesday while anxiety that Spain's banking sector needs more help than anticipated sapped demand for the euro. The euro fell as low as $1.2360 in late New York trade. The dollar climbed against the Swiss franc, touching a fresh 15-month high of 0.9608 francs, according to Reuters data.

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