The euro weakened against the yen after a report showed Spain’s economy entered its second recession since 2009, adding to concern Europe’s debt crisis is worsening.
The common currency extended its monthly decline versus the dollar as Spain’s government struggled to convince investors it can narrow its budget deficit in an economy that’s grappling with almost 25 percent unemployment.
Canada’s dollar fell by the most in more than five weeks after the nation’s economy unexpectedly shrank.
Canadian economic output fell 0.2% in February to an annualized C$1.28 trillion ($1.30 trillion) after a January gain of 0.1%, Statistics Canada said today in Ottawa. Survey had projected a 0.1% increase.
The yen strengthened as the Bank of Japan additional monetary easing last week failed to drive down shorter-term yields, helping maintain the relative allure of yen-denominated assets.
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