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Tuesday, September 30, 2008

  The euro fell 2.5 percent vs the U.S. dollar, its biggest one-day drop ever, after Germany, Holland-Belgium, and the UK had to bail out banks, raising fears of more losses to come. The dollar rose by comparison because U.S. bank losses are better understood. Bloomberg story here.

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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com