Euro Fluctuates on Disagreement How to End Europe’s Crisis

The euro slipped against the Japanese yen today as the division of the European leaders on the measures necessary to deal with the sovereign-debt problems may hamper the attempts to battle the crisis. The European currency fluctuated against the US dollar.

Vitor Constancio, the Vice-President of the European Central Bank, said yesterday that the European Union need to increase the size of the bailout fund to be ready to deal with the fiscal crisis. The German Chancellor Angela Merkel and the French President Nicolas Sarkozy strongly oppose this proposal.

EUR/USD traded at about 1.3249 as of 13:08 GMT after it opened at 1.3238 and reached the intraday high of 1.3282. EUR/JPY traded near its opening level of 110.85, falling from the intraday high of 111.11.

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