Business

Euro starts week with new 4-year low

The Associated Press, Berlin | Mon, 06/07/2010 2:17 PM
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The euro has started the week with another four-year low against the dollar - falling below $1.19 for the first time since March 2006.

The currency fell as low as $1.1878 on Monday before puling up to $1.1914 in early European trading - still below the $1.1956 it bought in New York on Friday.

The euro suffered on Friday from a Hungarian official's warning about the state of his country's economy, which deepened anxiety over Europe's debt crisis. Hungary doesn't use the euro but is a European Union member

Disappointing U.S. jobs data also diminished markets' appetite for risk. The dollar is a traditional safe haven.

The British pound slipped to $1.4450 Monday from Friday's level of $1.4459. The dollar slid against the Japanese currency, falling to 91.28 yen from 91.51 yen.

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