Eurodrama in currency markets raises U.S. dollar's standing

The euro fell to a 17-month low against the dollar on Monday, dropping below $1.12, down about 4% since Sept. 8, as political and fiscal worries rattled European markets. France faces high deficits and political stalemate, while Spain's prime minister called a snap election for Nov. 29. Former ECB board member Lorenzo Bini Smaghi urged the central bank to suspend quantitative tightening.