http://www.reuters.com/article/2012/05/30/markets-forex-idUSL1E8GU26H20120530
* Euro heads towards low $1.20s on Spain worries
* Spanish debt yields near dangerous levels, risk of bailout
growing
* Italian borrowing costs soar at bond sale
http://www.bloomberg.com/news/2012-05-29/euro-slides-toward-2-year-low-amid-concern-over-spanish-banks.html
The euro fell to the lowest in almost two years against the dollar as
Spain struggled to rescue its troubled banks, adding to signs the
European debt crisis is spreading to the region’s larger economies.
The 17-nation currency slid for a seventh day versus the yen, the longest losing streak in four months, after Italy sold less than its maximum target at a debt auction. The yen and dollar strengthened as investors sought safer assets after a European report showed economic confidence dropped more than economists estimated in May. Asian currencies weakened, pushing the Bloomberg-JPMorgan Asia Dollar Index to the lowest level since September 2010.
