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24 May 2001 10:19  Euro's sharp losses vault yen across board


New York, May 23 (BridgeNews) - The euro carved out a fresh six-month low of 85.48 cents to the dollar as the bearish momentum intensified following new evidence of weakening growth and rising inflation in the euro-zone. The outlook remains bearish despite the fact that the euro fell below the levels where the Group of Seven central banks intervened to rescue the single currency on Sept. 22. The dollar slumped versus the yen to a 10-week low of 119.35 as the Japanese currency was buoyed by intense sales of European currencies.
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