Spain's political scandal pushes euro lower

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Associated Press

Posted on February 4, 2013 at 1:01 PM

Updated Monday, Feb 4 at 1:02 PM

NEW YORK (AP) — The euro is falling against the dollar as a political scandal in Spain worried investors.

Spain's Prime Minister Mariano Rajoy is denying allegations that he and his party received secret cash payments from businesses. Spain's top prosecutor says it may call in Rajoy for questioning if necessary.

Opposition parties are calling for Rajoy to resign.

The euro fell to $1.3524 in midday trading from $1.3662 late Friday.

The British pound rose to $1.5730 from $1.5714.

The dollar fell to 92.53 Japanese yen from 92.74 Japanese yen.

The dollar rose to 0.9091 Swiss franc from 0.9078 Swiss franc.

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