Euro Gains on Speculation ECB Measures Will Quell Crisis
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The euro rose to a more than three-week high versus the yen amid speculation that the European Central Bank is taking appropriate measures to quell the region’s debt crisis.
The shared currency climbed earlier against the U.S. dollar as a report showed Italy’s economy shrank less than economists predicted. The euro was supported as the European Union said it had received no requests for the region’s rescue fund to buy government bonds. Norway’s krone climbed after manufacturing increased.