Euro Weakens From Almost Two-Month High Amid ECB Speculation
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The euro weakened versus most of its major counterparts amid concern policy measures from the European Central Bank may not be enough to contain the region’s debt crisis.
The 17-nation currency declined from almost a two-month high against the dollar as ECB President Mario Draghi said the central bank would be willing to buy bonds of maturities as longs as three years. The U.S. currency gained as global stocks and commodities fell even after a report showed manufacturing in the U.S. contracted for a third month, adding to speculation the Federal Reserve will announce another round of monetary easing.