Euro Advances to Six-Week High on Greece Crisis Optimism

The euro rose to six-week highs against the dollar and yen before regional leaders meet this week to discuss Greece’s fiscal adjustment program amid optimism the European debt crisis is being contained.

The 17-nation currency appreciated for a second day versus the greenback after Germany indicated concessions for Greece were possible and as Spanish borrowing costs declined at a bill auction. The dollar weakened against most of its 16 major counterparts before a report tomorrow forecast to show U.S. home sales improved last month, reducing demand for safer assets. Sweden’s krona gained as a central-bank official said economic growth has been “unexpectedly” strong this quarter and the currency has strengthened more than estimated.