Reuters: US Dollar Report: Euro plunges to low of the year versus dollar

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Euro plunges to low of the year versus dollar Mar 1st 2013, 14:56 NEW YORK, March 1 | Fri Mar 1, 2013 9:56am EST NEW YORK, March 1 (Reuters) - The euro fell on Friday to its lowest level of the year versus the dollar as weak euro zone data and interest rate differentials had investors favoring the greenback's safety. The euro fell as low as $1.2982, its lowest since Dec. 11. It last traded at $1.2994, down 0.5 percent on the day. Poor euro zone economic data, along with cooling inflation and risks that political instability in Italy may push up borrowing costs for struggling countries could pressure the European Central Bank to lower interest rates in coming months. Interest rate spreads between two-year U.S. government bonds over their German counterparts gave investors another reason to buy the dollar. The euro also extended losses versus the yen and last traded at 120.48 yen, down 0.3 percent on the day, according to Reuters data.

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