Euro Strengthens Above $1.27 Amid Europe Optimism; Dollar Falls
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The euro strengthened above $1.27 for the first time since June amid optimism a bond-purchase program announced by the European Central Bank will help contain the region’s debt crisis.
The 17-nation currency climbed to a two-month high versus the yen after German exports and industrial production for July both beat economists’ forecasts. The dollar fell against most major counterparts before a U.S. monthly payroll report, after industry data yesterday showed American companies hired more workers last month than analysts predicted. The Swiss franc fell to the weakest since January against the euro.