Euro Falls Below $1.20

Mon 7th Jun, 2010

MUNICH. Europe's recently battered currency fell to $1.19 in Friday trading on continuing debt worries throughout the Eurozone, marking a new four-year low against the dollar and nearing its initial trading value of $1.18 set in 1999.

Against the pound, the euro slipped to £0.83 while rising slightly against the yen to ¥110. The euro's woes come as a boon to many tourists in Germany as well as German exporters, while importers worry over resulting medium- to long-term inflation.

The past decade has seen considerable fluctuation of the euro's dollar value, from a low of $0.83 in October of 2000 to a high of $1.60 in July of 2008.


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