Euro loses ground against dollar (Bloomberg) (09-11-2011)

The euro lost 0.9 percent to $1.3712 at 10:06 a.m. London time, after earlier climbing to $1.3859, the highest since Nov. 4. The 17-nation currency weakened 0.9 percent to 106.43 yen, the least since Oct. 27. The euro dropped against the dollar and yen amid concern Italy will join Greece in struggling to form a new regime strong enough to implement austerity measures following the resignation of Prime Minister Silvio Berlusconi.

The Dollar Index, which Intercontinental Exchange Inc. uses to track the greenback against the currencies of six major U.S. trading partners climbed 0.8 percent to 77.28. the currency has appreciated 5.8 percent in the past three months, the best performer among the 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes.

The yen was little changed at 77.67 per dollar. It  touched 77.54, its strongest since Oct. 31, when it set a post-World War II record of 75.35.

Australia’s dollar declined ahead of data that may show the unemployment rate rose to 5.3 percent in October from 5.2 percent the previous month. The Aussie lost 1.6 percent to $1.0231 and dropped 1.6 percent to 79.49 yen.

Source: Bloomberg