The euro slid toward the lowest in
almost four months against the dollar after the Cypriot parliament voted
down a bank-deposit levy needed to secure a bailout, risking renewed
tumult in the currency bloc.
The 17-nation currency fell for a fourth
day versus the yen as an official familiar with the matter said
European policy makers in Cyprus discussed further capital controls and
extending a bank holiday through to the end of the week. The yen and
dollar rose against most major peers as investors sought havens on
concern Europe’s crisis may slide out of control.
“It’s an impasse with the Cyprus
parliament rejecting the proposals from the eurogroup, and they will
have to engage in further negotiations,” said Hans Kunnen, the
Sydney-based chief economist at St. George Bank Ltd. “This just adds to
the weight against the euro.”
The euro fell 0.1 percent to $1.2872 as
of 9:25 a.m. in Singapore from $1.2882 in New York yesterday, when it
touched $1.2844, the weakest since Nov. 22. The shared currency declined
0.3 percent to 122.18 yen and traded little changed at 1.2196 Swiss
francs following a 0.5 percent drop yesterday. The dollar slid 0.3
percent to 94.92 yen.
Japanese financial markets are closed today for a national holiday.
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