Euro Hits Two-Month High on Growth, Optimism on Debt Resolution
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The euro touched a two-month high against the dollar on signs growth in the region is accelerating and speculation policy makers will craft a long-term approach to handle the sovereign-debt crisis.
The 17-nation currency also traded near a two-month high versus the yen as European Central Bank President Jean-Claude Trichet told the Wall Street Journal that policy makers will “closely” monitor energy and commodity prices pressures. The yen weakened against 15 of its 16 major counterparts before reports this week that may show European industrial orders increased for a second month and U.S. consumer confidence rose, sapping demand for Japan’s currency as a refuge.