Euro Falls On Europe's Unemployment Woes
NEW YORK (AP) â¿¿ The euro fell against the dollar Tuesday as the unemployment rate in the countries that use the euro rose to the highest level since the single currency was founded.
Traders also sold the euro as industrial orders fell in Germany.
Unemployment in the 17 countries that make up the euro zone rose to 11.8 percent in November from 11.7 percent in October. That's the highest since the euro was founded in 1999.
Germany said industrial orders fell more than expected in November due to weaker foreign demand. German exports also fell.The euro fell to $1.3084 in late trading Tuesday from $1.3112 late Monday. The British pound fell to $1.6059 from $1.6107. The dollar rose to 0.9239 Swiss franc from 0.9216 Swiss franc and to 98.71 Canadian cents from 98.63 Canadian cents. The dollar fell to 87.19 Japanese yen from 87.84 yen.
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