Wednesday, March 27, 2013

Reuters: US Dollar Report: Euro extends falls, down 1 percent on day versus yen

Reuters: US Dollar Report
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Euro extends falls, down 1 percent on day versus yen
Mar 27th 2013, 12:14

LONDON, March 27 | Wed Mar 27, 2013 8:14am EDT

LONDON, March 27 (Reuters) - The euro extended falls, losing one percent on the day against the yen on Wednesday on growing worries that a Cyprus rescue deal could see private investors foot the bill for future euro zone bailouts.

Tepid demand at an auction of Italian debt also weighed.

The euro fell to 120.085 yen, just a shade above Monday's low of 120.08 yen below which would mark its weakest in a month, according to data from EBS trading platform.

Traders said U.S. names selling the euro against the dollar added to broad falls in the currency. The euro lost 0.75 percent on the day against the dollar to hit a fresh four-month low of $1.2762.

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