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Summary Euro plunged to a new 16-month low underneath $1.28 on Thursday.
The slump came as investors fretted over the worsening eurozone debt crisis amid fresh banking strains in Spain.At 1407 GMT, the shared European unit slumped to $1.2797 -- which was the lowest level since September 13, 2010. It also dived against the safe-haven Japanese currency to strike 98.48 yen -- last seen in December 2000. --AP
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