Australian Dollar Strengthens Before Euro Crisis Talks
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The Australian dollar rose against all of its major counterparts before Europe’s leaders meet this week to discuss measures to stem the region’s debt crisis.
The Aussie strengthened versus the yen on prospects the European Central Bank will try to cap bond yields in the euro area, supporting investor appetite for riskier assets. Gains by the Australian and New Zealand dollars against their U.S. peer were tempered by prospects the Federal Reserve will refrain from further monetary stimulus, which could debase the greenback.