Euro sinks below $1.20 on fresh debt fears

interns Contributor
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The euro sank to the weakest point in more than four years against the dollar as a disappointing U.S. jobs report, combined with fears the euro-zone sovereign-debt crisis is spreading across the region, led investors to flee risky assets.

The common currency fell below $1.20—the 10-year average—and is on a course that could bring it to $1.18, where it exited the first day of trading when the euro was introduced in 1999.

The common currency has shed more than 15% of its value against the dollar in 2010, as the sovereign-debt crisis spread along the periphery of the euro zone and triggered fears it could infect Europe’s financial system—and perhaps even stymie the global economic recovery.

Full story: Euro Sinks Below $1.20 on Fresh Debt Fears –