Euro sinks to two-year low
By The Week Staff | July 12, 2012
The euro symbol is reflected in a puddle in front of the European Central Bank in Frankfurt, Germany: Eurozone leaders meet in Brussels Thursday to decide the monetary system's fate.
Uwe Zucchi/dpa/Corbis
T
he euro sank to a two-year low Thursday, falling to a value of $1.21725. The dwindling likelihood of U.S. monetary stimulus, the European Central Bank's deciding to cut interest rates, and Europe's ongoing debt crisis all served to buoy the dollar and drag the euro down.
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