Euro slumps to 2-month low

The euro fell to the lowest level in two months versus the dollar as Moody’s Investors Service said it will review the ratings of European Union nations after last week’s summit failed to produce decisive steps to end the debt crisis. The dollar and yen strengthened against a majority of their most-traded counterparts as investors sought safer assets on concern crisis-fighting efforts are failing to stop European borrowing costs from rising. Sweden’s krona weakened as stocks declined amid reduced demand for higher-yielding investments. China’s yuan appreciated after the nation’s central bank signalled the currency will be allowed to trade more freely.