Cyprus deal drags euro to four-month low

Cyprus deal drags euro to four-month low

The euro slid to its lowest level since November on Monday as investors expressed concerns that the rescue deal for Cyprus could become a template for future bailouts.

The euro slid to its lowest level since November on Monday as investors expressed concerns that the rescue deal for Cyprus could become a template for future bailouts.

The euro had earlier rallied in Asian trading after eurozone finance ministers agreed the deal for Cyprus, but it slipped to $1.2830 at 1715 GMT, its lowest level since November 22, although it rose slightly to $1.2851 at 1730 GMT.

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