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Euro skids toward fifth weekly fall but selling pressure slows
SINGAPORE: The euro was headed for a fifth straight weekly drop on Friday, though there were signs the selling streak was losing momentum as France’s tumbling debt market stabilised and a decline in US yields took some steam out of the dollar’s rally. The common currency had hit a 17-month low of $1.1161 on Monday on market worries about France’s record high debt load and the difficult political path to budget cuts, in contrast with a robust-looking US dollar and US economy. It has since recovered to trade at $1.1211, for a fall this week of 0.3% and a five-week drop of more than 3% on the...
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