April 6 (Bloomberg) -- The euro fell for a second day against the yen amid concern Greece and other European countries will struggle to raise funds to repay maturing debt.
The euro weakened versus 14 of 16 major counterparts after the Financial Times cited an unidentified official as saying Greece plans to sell bonds in the U.S. as the European nation struggles to fund the trading bloc’s widest fiscal gap. The yen strengthened on speculation Japanese exporters bought the currency after it fell to a seven-month low against the dollar.
“People are concerned that it’s not just Greece, there are some definite sovereign debt issues in the region,” said Phil Burke, chief dealer for global foreign exchange and rates at JPMorgan Chase & Co. in Sydney. “The market is still bearish on the euro overall and still wants to sell on rallies.”
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Comment: "Old Europe" is jubilating. The weekened euro pulls the heart of region out of the region. Let Greece go bankrupt, anyhow.
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