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Euro battered again as currency reaches 6-month low against US dollar

Thursday 28th January 2010

By Mike Jones

The euro hit another six-month-low against the dollar in Asia amid further concerns about the fiscal health of some Euro zone countries.

First it was Greece, now it is Portugal which is giving cause for concern after the country admitted earlier this week that its budget deficit for 2009 was equivalent to 9.3% of gross domestic product - above the 8% ceiling expected by the European Commission.

Automated stop-loss selling orders at around $ 1.400 pushed the euro down to $ 1.3930 - its lowest mark since $ 1.3911 on July 14.

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