The euro tumbled broadly on Friday after Spain's Valencia region said it would seek central government help to repay its debts, raising concerns the euro zone's fourth largest economy may have to ask for a full-scale international bailout. As a result, the single currency plunged to record lows against the Australian, Canadian, and New Zealand dollar. It also hit a more than 11-year low against the yen and multi-month troughs versus the Norwegian and Swedish crowns.
The euro fell as low as $1.2143 against the US dollar, its weakest level since mid-June 2010, as traders took out an options barrier at $1.2150. It was last at $1.2162, down nearly 1.0 percent on the day, declining for a third straight session and posting losses of about 1.6 percent this week. The single currency hit record lows against the higher-yielding Australian dollar at A$1.1699, the Canadian dollar at C$1.2284, and New Zealand dollar at NZ$1.5166. The euro zone's common currency hit a more than 11-year low against the Japanese yen of 95.34 yen, a four-month trough against the Norwegian crown of 7.3960 crowns and an 11-1/2 year low of 8.4282 crown against the Swedish currency.
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