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Dollar rises against euro on Italian debt worries

Dollar rises against euro on Italian debt worries

The euro hit a four-month low against the dollar as investors warily eye the European debt crisis.
European finance ministers are talking about a partial default for Greece that could roil markets across Europe. Fears about how that would affect European banks have led to worries about the financial health of Spain and Italy.
The euro countries have aided Greece, Ireland and Portugal, but current crisis funds are not large enough to rescue Spain and Italy if their borrowing costs get too steep.
After dropping as low as $1.3836 overnight, the euro's weakest point since early March, the euro is trading at $1.3988 Tuesday morning in New York, down from $1.4024 late Monday.
The dollar is also rising against the British pound, but dropped versus the Japanese yen.


Updated : 2020-11-30 20:21 GMT+08:00