Political uncertainty in Europe pushes euro lower

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Associated Press

Posted on February 6, 2013 at 12:02 PM

Updated Wednesday, Feb 6 at 12:02 PM

NEW YORK (AP) — Political turmoil in Italy and Spain is pushing the euro lower against the dollar.

A corruption scandal in Spain has some leaders calling for Prime Minister Mariano Rajoy to resign. Italy will hold elections later this month. Traders are worried that a change in leadership in either country could derail efforts to end Europe's financial crisis.

The euro fell to $1.3527 in afternoon trading from $1.3584 late Tuesday. The British pound fell to $1.5659 from $1.5663.

The dollar rose to 93.49 Japanese yen from 93.36 Japanese yen and to 0.9093 Swiss franc from 0.9083 Swiss franc.

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