Reuters: US Dollar Report: Euro hits fresh 11-1/2 year low versus yen-Reuters data

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Euro hits fresh 11-1/2 year low versus yen-Reuters data Jul 24th 2012, 16:21 NEW YORK, July 24 | Tue Jul 24, 2012 12:21pm EDT NEW YORK, July 24 (Reuters) - The euro hit a fresh 11 1/2 year low against the traditional safe haven Japanese yen on Tuesday after comments by some EU officials suggested Greece could miss debt reduction targets outlined in the country's bailout deal. Officials from the European Union, International Monetary Fund, and European Central Bank are currently in Athens to assess the country's progress on complying with the terms of the bailout deal. The euro fell to 94.16, an 11-1/2 year low. It last traded at 94.28, down 0.7 percent on the day, according to Reuters data. "The Greece headlines served as catalyst for an acceleration in losses for the euro," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington D.C. "The euro was already on the defensive and the Greece news added fresh bearishness to markets and there is an overwhelmingly negative tone in nearly every headline coming out of Europe right now ," he said.

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