The euro weakened to a more than two-year low against the dollar, falling below $1.21, as concern mounted that European leaders are failing to gain control of the region’s debt crisis.
The 17-nation currency dropped to less than its lifetime average versus the dollar, and slid to an 11-year low against the yen. Japan’s currency strengthened against all 16 of its major counterparts as investors sought safer assets. Six Spanish regions may ask for aid from the central government, El Pais reported, propelling the nation’s 10-year bond yield to a euro-era high. The Swiss franc weakened through 99 centimes per dollar for the first time since December 2010.
The shared currency also dropped before the troika of Greece’s international creditors -- the European Commission, the European Central Bank and the International Monetary Fund -- arrive in Athens tomorrow amid doubts the nation will meet its commitments and reluctance among euro-area states to put up more funds should it fail.