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Euro Falls 3rd Day Versus Yen as Spain Back in Recession
The euro weakened for a third day against the yen after a report showed Spain’s economy entered its second recession since 2009, adding to concern Europe’s debt crisis is worsening. The 17-nation currency extended its first monthly decline this year versus the dollar as Spain’s government struggled to convince investors it can narrow its budget deficit in an economy that’s grappling with almost 25 percent unemployment. The pound touched an eight-month high versus the dollar after house values increased. Canada’s dollar fell by the most in more than five weeks after the nation’s economy unexpectedly ... (full story)