Euro Declines Against Most Majors
May 16 2012 - 3:01AM
RTTF2
The euro fell sharply against its U.S., U.K and Japanese
counterparts ahead of European trading on Wednesday amid political
impasse in Greece.
Greece heads fresh general election after the second round of
talks between political parties to form a coalition government
failed to reach agreement on Tuesday.
The euro slipped to a new 3-1/2-year low of 0.7952 against the
pound, compared to Tuesday's close of 0.7962. The next downside
target level for the euro is seen at 0.77.
Against the greenback and the yen, the euro hit a fresh 4-month
low of 1.2684 and a new 3-month low of 101.93 with 1.265 and 101.00
seen as the next downside target levels, respectively.
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