Euro plunges to four-year low

HONG KONG: The euro plunged to a four-year low in volatile Tokyo trade on Monday as fears about euro zone debt continued to hammer the single currency and regional stock markets.

Sentiment remained fragile despite an EU-IMF rescue package worth almost $1 trillion designed to prevent the Greek crisis from spreading, as fears grew that the single currency is at risk of collapse.

The euro fell to as low as $1.2243 in Tokyo trade — its lowest since April 2006 — from $1.2358 in New York on Friday.

It later recovered slightly to $1.228 in European trade. — AFP