30 Dec '11, 11am

Euro under 100 yen for first time in ten years

Euro under 100 yen for first time in ten years

LONDON: The European single currency slumped on Friday underneath 100 yen for the first time in ten years, on the back of eurozone debt fears in volatile pre-holiday trading. At about 1050 GMT, the euro tumbled to 99.97 yen - the lowest level since December 2000 and the first time it has breached the key 100-yen barrier since June 2001. It later recovered to 100.10 yen, still below 100.61 yen on Thursday in New York. However, the euro held above $1.29, trading at $1.2935. On Thursday, it had tumbled to $1.2858 - the lowest since September 14, 2010 - before rebounding on the brighter US economic data. Meanwhile, European stocks traded mixed on Friday. In low-volume morning deals, London's benchmark FTSE 100 index of top companies dipped 0.20 percent to 5,555.54 points, as investors wound down before an earlier than usual finish at 1230 GMT. Frankfurt's DAX 30 added 0.37 per...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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