NEW YORK, March 25 The euro hit a session low
versus the U.S. dollar and Japanese yen on Monday as comments
made by the head of the Eurogroup of euro zone finance ministers
spurred broad risk aversion.
Dutch finance minister Jeroen Dijsselbloem, who heads the
Eurogroup, told Reuters and the Financial Times that the rescue
program agreed for Cyprus represents a new template for
resolving euro zone banking problems and other countries may
have to restructure their banking sectors.
The euro fell as low as $1.2865 and last traded at
$1.2874, down 0.8 percent on the day.
The euro initially rose above the $1.30 level in the
overnight session after Cyprus struck a deal with international
The euro fell as low as 121.69 yen and last traded
at 121.74, down 0.8 percent on the day, according to Reuters
Global stocks turned lower, U.S. Treasuries turned flat and
German bund futures hit a session high after the news.