Euro continues near 11-month dollar low

Thursday, December 02, 2010

The euro remains near 11-month lows against the US dollar as European debt concerns continue to focus on Portugal.

With the Portuguese government due to auction 500m euros ($651m; £418m) of bonds later, analysts are waiting to see the extent of market interest.

It comes a day after ratings agency Standard & Poor's placed Portugal on credit watch due to the country's huge debts. It said they faced an "intolerable risk" if the government in Lisbon failed to consolidate public finances.

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