Euro Advances Versus Most Major Peers as ECB Buys Italian Bonds
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The euro rose against the majority of its most-traded counterparts as a decline in Italian bond yields overshadowed concern Europe’s debt crisis is worsening.
The 17-nation currency fluctuated versus the dollar and yen after rising from five-week lows as two people with knowledge of the trades said the European Central Bank bought more Italian government bonds, following purchases earlier today. The euro erased gains versus the yen as stocks tumbled for a second day. The Australian dollar fell below parity with the greenback for the first time in more than a month as risk appetite faded.