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Forex - Euro Declines as Rajoy and Monti Meet Amid Weak Economic Outlook

Posted by Forexsq 206 days ago (http://www.bloomberg.com)

forexsq - The euro approached a two-week low against the dollar as Italy and Spain’s premiers meet amid a growing divide over Europe’s new bailout strategy and data that shows the crisis is weighing on the region’s economy.

The dollar and yen strengthened as signs of global economic weakness increased demand for haven assets. Italy’s Mario Monti is set to meet Spain’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