Euro Rises for Second Week Versus Dollar Before Greek Election

The euro strengthened against the dollar for a second week as investors pulled back on record bets against the currency before the Greek election tomorrow that may determine whether the nation remains in the bloc.

The 17-nation currency rallied amid speculation central banks may provide aid to financial markets after Spain last week became the fourth euro member to seek a rescue. The yen strengthened against the dollar after the Bank of Japan refrained from expanding monetary stimulus that debases the currency. The dollar fell versus major peers as weaker U.S. growth added to the case for further monetary stimulus from the Federal Reserve at its policy meeting next week.