Cyprus Deal Hits the Euro, Pound Lifts


A bailout plan for Cyprus that involves taxing bank deposits spooked investors and sent the euro tumbling. [CNBC]

Cyprus may put forward a modified bailout deal that would entail less pain for bank depositors with smaller accounts. [CNBC]

Traders squeezed the yen higher in the wake of the Cyprus bailout deal as risk aversion increased.

The dollar corrected higher on news of the Cyprus bailout deal. []

[CNBC]The Cyprus bailout deal sparked worries about contagion in the euro zone, and the Australian and New Zealand dollars fell. [CNBC]

The pound rose against the euro, responding to the Cyprus news and to comments last week by the Bank of England chief. []

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