Euro Extends Biggest Weekly Rally Since January on G-20 Optimism
This article is for subscribers only.
The euro extended its biggest weekly gain versus the dollar in more than two years on speculation Europe’s sovereign debt crisis will be contained as Group of 20 finance ministers met to confront the region’s turmoil.
The yen fell against the dollar on bets Japanese authorities will take steps to limit its gains. A gauge of the dollar against the currencies of major U.S. trading partners dropped to a four-week low as an increase in retail sales buoyed stocks and reduced demand for a refuge. The euro rose versus the dollar as Treasury Secretary Timothy F. Geithner said “Europe is clearly” moving to a crisis solution.