forexsq - The euro approached a two-week low against the dollar as Italy and Spainâ€™s premiers meet amid a growing divide over Europeâ€™s new bailout strategy and data that shows the crisis is weighing on the regionâ€™s economy.
The dollar and yen strengthened as signs of global economic weakness increased demand for haven assets. Italyâ€™s Mario Monti is set to meet Spainâ€™s Mariano Rajoy in Madrid as pressure mounts on the Iberian nation to request aid. A report today showed retail sales in Spain dropped 11 percent in September from a year ago. The euro slid to a two-week low against the yen as German Finance Minister Wolfgang Schaeuble rejected another debt restructuring for Greece. forex