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Euro fell below the two-year low against the dollar as increasing concern about the fact that European leaders are not able to take control of the debt crisis in the region. The euro also fell to 11-year low against the yen. Former Japanese finance minister for international affairs Takehiko Nakao said that officials will take decisive steps to strengthen the yen, if necessary.
The growth of the yen and U.S. dollar was caused by the fact that many investors looking for safer assets. According to information, six Spanish regions can seek help from the central government, which caused a record increase in yield of 10-year Spanish bonds.
The dollar rose against most major currencies in anticipation of GDP data, which will be published this week.
The Canadian dollar fell to its lowest level for 11 days against the U.S. dollar on speculation that the debt crisis in Europe is deteriorating, and the yield on Spanish bonds rose above 7.5 percent. Reducing against most other currencies, was also caused by lower oil prices. In this regard, the yield on 10-year bonds of Canada reached a record low level.
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