MW: Euro hits new four-year low versus U.S. dollar
By William L. Watts
LONDON (MarketWatch) -- The European single currency on Friday broke to a four-year low versus the U.S. dollar, taking out support at the previous low of $1.2110 set earlier this week. The euro (CUR_EURUSD 1.2105, -0.0056, -0.4605%) traded as low as $1.2091 before rebounding back to $1.2112, a loss of 0.5% on the day. The move came after the euro plunged to a new all-time low versus the Swiss currency below 1.40 Swiss francs. Peter Rosenstreich, currency strategist at ACM in Geneva, said the move came as traders pressed the euro lower versus the franc after Swiss National Bank President Philipp Hildebrand offered no comment on the bank's intervention efforts to stem the rise of the franc versus the euro in a speech in Interlaken, Switzerland.
