Euro Rises From 7-Week Low on Easing Concern Over Italy Election
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The euro rose from a seven-week low against the dollar as Italian and Spanish bond trimmed losses on easing concern inconclusive elections in Italy may deepen Europe’s debt crisis.
The euro fluctuated against the greenback as investors bet the European Central Bank will step in to limit any losses in so-called peripheral bonds. The yen weakened on speculation Japan’s Prime Minister Shinzo Abe will select Haruhiko Kuroda, who favors additional stimulus, as the next central bank governor. The Dollar Index advanced to the highest in six months after Federal Reserve Chairman Ben S. Bernanke defended the central bank’s asset-purchase program.