Reuters: US Dollar Report: Euro extends losses vs dollar, hits more than 2-year low

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Euro extends losses vs dollar, hits more than 2-year low Jul 20th 2012, 14:09 NEW YORK, July 20 | Fri Jul 20, 2012 10:09am EDT NEW YORK, July 20 (Reuters) - The euro plunged to more than two-year lows against the U.S. dollar on Friday, pressured by selling in other euro crosses and a spike in Spanish bond yields, traders said. The euro fell as low as $1.2143 against the dollar, its weakest level since mid-June 2010, taking out options barriers at $1.2150. Traders also said a sell-off in euro/sterling and euro/Swedish crown exacerbated the euro's slide. Euro/sterling dropped to 77.68 pence, a fresh 3-1/2-year low, while the euro/Swedish crown slid to a new 11-1/2-year trough of 8.4350. Spanish 10-year yields continued their rise, to 7.264 percent.

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