14 Feb '11, 12pm

FOREX-WestLB uncertainty knocks euro to 3-wk low: * Euro falls broadly on news of hitch in WestLB rescue

* Euro falls broadly on news of hitch in WestLB rescue * EUR/USD breaks below key technical support * U.S. deficit reduction plans unlikely to boost dollar By Neal Armstrong LONDON, Feb 14 - The euro slipped to a three-week low against the dollar on Monday, hit by reports that rescue plans for ailing lender WestLB were under threat, and with euro zone peripheral debt concerns keeping investors on edge. Aid for WestLB hangs in the balance, a source told Reuters on Monday, as the bank struggles to come up with a rescue deal ahead of presenting a restructuring plan to the European Commission. [ID:nBAT005995] "The WestLB news doesn't provide a great deal of optimism to the euro at the start of the week," said Jeremy Stretch, currency strategist at CIBC. "Structural negatives in the euro zone haven't gone away, and some of those risks are due to the banking sector. WestLB's pro...

Full article: http://sg.news.yahoo.com/rtrs/20110214/tbs-markets-forex-...

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