Euro Reaches Decade Low Vs. Yen

Greek debt crisis and concerns about growth dampen currency

The euro touched the lowest in more than a decade versus the yen after European governments signaled bondholders may have to take bigger losses on Greek debt, deepening concern the debt crisis will damp recovery prospects.

The 17-nation currency reached an eight-month low versus the dollar as global stocks slumped. Russia’s ruble fell for a fifth day versus the dollar on concern the euro-area debt crisis will hurt oil demand. The Australian dollar declined to the least in more than a year versus the greenback after the Reserve Bank of Australia held its key rate at 4.75 percent.

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