Reuters: US Dollar Report: Euro drops after Italian industrial output data

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Euro drops after Italian industrial output data Jun 8th 2012, 08:12 LONDON, June 8 | Fri Jun 8, 2012 4:12am EDT LONDON, June 8 (Reuters) - The euro extended losses on Friday, falling more than 1 percent against the yen and dropping to a session low versus the dollar after Italian industrial production fell far more than expected in April. The figures suggest the economy remains mired in recession. The euro lost around 0.75 percent on the day to hit $1.2461 on EBS trading platform, extending losses following a Fitch downgrade of Spain's credit ratings the previous day, with traders citing aggressive selling by macro accounts. Against the yen, the euro fell 1.3 percent to 98.58 yen, according to EBS data.

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