EUROZONE: Euro drops close to one-year low against dollar

Bloomberg reports Euro Drops in Longest Losing Streak Since 2010 on Debt Turmoil The euro fell for a fifth week versus the dollar in its longest losing streak in almost two years on concern Europe’s debt crisis is worsening and as data showed the U.S. labor market is strengthening.

An official for the Bank of Italy says Bonds Bids, Offers Show Government Bond Market "Frozen". Spreads between bid and ask government bond prices indicate markets are “frozen,” said Franco Passacantando, Bank of Italy’s Managing Director for Central Banking, Markets and Payment System in Milan today.

ATHENS – Greece said it would spend 10-billion euros to buy back bonds at a price range that topped market expectations, boosting hopes it can cut its ballooning debt and unlock long-delayed aid. A successful buyback is central to the efforts of Greece’s foreign lenders to put the near-bankrupt country’s debt back on a sustainable footing and would clear the way for the funding Athens needs to avoid running out of cash.

The euro tumbled to yet another 16-month dollar low on Friday as the single currency's fortunes were hit by positive US jobs data and ongoing fears over the eurozone debt crisis.At 1400 GMT, the shared currency dived as low as $1.2725, which was last seen on September 13, 2010. It also sank to 98.21 yen, which was the lowest level since December 2000.The US unemployment rate dropped to 8.5 percent in December, the lowest level in nearly three years, as hiring surged more than expected, official data showed on Friday.

The euro dived on Thursday to a new six-week dollar low after French, German and Italian leaders agreed not to widen the role of the European Central Bank to support weaker eurozone states.Shortly after 1500 GMT, the European single currency sank as low as $1.3316, which was the lowest level since October 6. That compared with $1.3334 late in New York on Wednesday.Eurozone giants Germany and France vowed to propose changes to EU governing treaties Thursday, but Chancellor Angela Merkel stood by her refusal to widen the European Central Bank's role.

The euro slumped to a six-month low point against the dollar on Friday as worries deepened about the state of the European economies in light of Greece's debt woes.The single currency also dropped as official data showed the eurozone unemployment rate rose to 10 percent last month.At 0115 GMT, the euro struck 1.3913 dollars -- the lowest point since mid-July 2009.Later in London trading, the single currency stood at 1.3965 dollars compared with 1.3966 late in New York on Thursday. The euro has dropped 4.5 percent in value against the dollar over the past two weeks.

The euro plunged to a new 16-month dollar low on Thursday, as investors dumped the single currency on fears of a worsening eurozone debt crisis amid banking strains in Spain.Shortly after 1000 GMT, the shared European unit slumped to $1.2831, its lowest level since September 14, 2010.

Spain endured a test of fire on the bond markets on Thursday, raising 3.3 billion euros ($4.7 billion) but paying a hefty rate in the midst of a growing eurozone debt crisis.Refusing to back out despite the risk premium on Spanish debt soaring to a euro-era record on the eve of the bond auction, Spain proved it can still borrow on the markets.But the price was high.