Euro Advances as ECB Official Says It Isn’t Overvalued
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The euro rose against the majority of its 16 most-traded peers after European Central Bank council member Jens Weidmann said the currency isn’t seriously overvalued.
The shared currency extended gains against the dollar after Weidmann, who heads Germany’s Bundesbank, warned governments against trying to weaken the euro. The yen depreciated to the weakest level in almost three years versus the dollar as Economy Minister Akira Amari was reported by Kyodo News as saying the government should persevere with efforts to boost stocks. Sweden’s krona strengthened amid a forecast for the Riksbank leave the benchmark rate unchanged.