LONDON—The euro sank to its lowest level against the dollar since August 2010 Wednesday as investors grew increasingly skeptical that leaders meeting in Brussels would announce further measures to alleviate the euro-zone crisis.
Investors piled into the relative safety of the dollar and Japanese yen and pushed German borrowing costs to record lows at an auction of two-year government bonds. European equities extended the losses seen in Asia while growth-sensitive currencies like the Australian dollar plumbed its lowest level since November 2011 at $0.9730.
