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97 yen, still Canada Goose Parka a loss of 1

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month low vs US dollar on Cyprus deal anxiety

dollar and the Japanese yen on Monday as enthusiasm brought on by Cyprus last ditch deal with its international lenders swiftly Canada Goose online segued into broad fears about the region banking sector.

Euro losses accelerated sharply after Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup, told Reuters and Canada Goose Outlet the Financial Times that the rescue program agreed for Cyprus represents a new template for resolving euro zone banking problems and that other countries may have to restructure their banking sectors.

Dijsselbloem appeared to backtrack from his comments later on Monday, saying Cyprus was a specific case with exceptional challenges.()

adjustment programmes are tailor made to the situation of the country concerned and no models or templates are used, according to a statement issued on the Council of Europe website.

However, canada goose clearance sale the damage to the euro Canada Goose sale was done by the canada thecanadagooseoutlet goose black friday sale earlier remarks, market analysts said.

comments from Dijsselbloem about this being a template for future bank restructurings spooked Canada Goose Jackets the market. It went from Cyprus being a unique situation to a template, and that has canada goose coats raised the contagion concerns, said Brian Daingerfield, currency strategist at uk canada goose Royal Bank of canada goose coats on sale Scotland canada goose uk outlet in uk canada goose outlet Stamford, Connecticut.

of a deposit tax could spark a capital move out of peripheral Europe into German banks or the United States. That the real contagion risk from Cyprus, canada goose uk shop he said. dollar to a four month low of canada goose $1.2829, and fell 2 percent against the yen before retracing some of the canada goose factory sale lost ground.

In late New York trade the euro was last down 1.02 percent at $1.2852, far below a session high of $1.3048 set after the Cyprus deal was struck. The euro hit 120.08 yen, before rising Canada Goose Coats On Sale back to 120.97 yen, still Canada Goose Parka a loss of 1.43 percent on the day. The euro rose to a high of 123.85 yen during Asian trading hours.

should severely complicate efforts by lawmakers and the European Central Bank to get financial markets calm.

The euro initially rose after Cyprus agreed to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout.

Without a deal, Cyprus banking system would have collapsed and the country could have become the first to exit the euro zone.

raises an important question: Why should a depositor cheap canada goose uk in any euro zone country Canada goose down similarly vulnerable to a banking crisis expect to be unscathed if a Cyprus like calamity were to befall them, said Ilya Spivak, canadian goose jacket currency strategist at DailyFX, in New York.

The euro decline against the dollar broke through key technical buy canada goose jacket cheap support around $1.2880, the 50 percent retracement point between the July 2012 low and the February 2013 high. The Cyprus crisis has sent the euro below canada goose clearance that point three times in the last five trading days but it never closed below that point.

close below this level is important and could open up a downside move toward the $1.2600 area, said RBS Daingerfield.

EURO TO STRUGGLE Worries about an economic slowdown in the euro zone, political uncertainty in Italy, and prospects of the ECB easing monetary policy in coming months to support growth were also expected canada goose store to weigh on the euro.

Uncertainty cheap Canada Goose over forming an Italian Canada Goose Online government could canada goose uk black friday hamper any substantial gains in the euro.

Data showed speculators increased their bets against the euro while bets in favour of the dollar rose in the latest week to their largest since the week of July 17.

However, market expectations are the Bank of Japan will unveil aggressive monetary stimulus at its next policy meeting on April 3 4, the first under new buy canada goose jacket BOJ Governor Haruhiko Kuroda, are seen likely to support the dollar against the yen in the near term.