Euro Falls to 1.29 on Growth Outlook and Spanish Bailout Uncertainty

The euro weakened as concern that growth and sentiment in the 17-nation region is faltering overshadowed prospects that a leaders' meeting this week will lead to solutions to the debt crisis.

The euro fell versus most of its major peers amid uncertainty over whether Spain will seek a bailout and before a report forecast to show investor confidence in Germany weakened. The Australian dollar dropped before the Reserve Bank releases tomorrow minutes of its October meeting, while its New Zealand counterpart slid after a report showed services shrank.

“Economic data from Europe are weak and continue to weigh on the euro,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp. (8711), a currency-margin company. “There are hopes Spain will request aid, but that is yet to be decided.”

via Bloomberg