Euro Declines From 3-Week High as Unemployment Rises; Yen Gains
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The euro dropped from the highest level in three weeks versus the dollar as demand for the currency bloc’s assets faded after data showed German retail sales fell and the region’s unemployment rose to a record.
The dollar gained as stronger-than-forecast data on U.S. business activity and consumer confidence overshadowed an unexpected drop in consumer spending, bolstering bets the Federal Reserve will reduce stimulus. The yen strengthened versus all of its 16 most-traded peers. A gauge of expected price swings for the euro climbed to a two-month high.