Reuters: US Dollar Report: Euro extends losses against the dollar, yen to session lows

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Euro extends losses against the dollar, yen to session lows Aug 2nd 2012, 15:14 NEW YORK | Thu Aug 2, 2012 11:14am EDT NEW YORK Aug 2 (Reuters) - The euro fell to a one-week low against the dollar in mid-morning trade on Thursday as traders sold the common currency across the board after European Central Bank President Mario Draghi disappointed investors hoping for quick action to contain the euro zone debt crisis. Selling accelerated after the euro broke previous session lows and as Italian and Spanish bond yields spiked after Draghi's comments. The euro slid as low as $1.2136, the weakest since July 26. It was last at $1.2140, down 0.7 percent on the day. It also hit a one-week low against the yen at 94.90 and was last down 1 percent at 94.95. "Everybody wants to get out of anything with the euro on it," said Tommy Molloy, chief dealer at FX Solutions in Ridgewood, New Jersey.

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