24 May 2001, 10:19 Euro's sharp losses vault yen across board
New York, May 23 (BridgeNews) - The euro carved out a fresh six-month
low of 85.48 cents to the dollar as the bearish momentum intensified
following new evidence of weakening growth and rising inflation in the
euro-zone. The outlook remains bearish despite the fact that the euro fell
below the levels where the Group of Seven central banks intervened to
rescue the single currency on Sept.
22. The dollar slumped versus the yen to a 10-week low of 119.35 as the
Japanese currency was buoyed by intense sales of European currencies.
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