Euro Rallies as Draghi Refrains From Added Measures; Yen Rises
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The euro strengthened the most in two weeks against the dollar after European Central Bank President Mario Draghi refrained from signaling that additional measures were needed to boost the region’s recovery.
The 17-nation currency advanced versus all except two of its 16 major counterparts after Italian Prime Minister Enrico Letta won a confidence vote in parliament, avoiding the need for another election. The yen rose for a second day against the dollar as U.S. lawmakers made no progress toward resolving a partial government shutdown and an industry report showed American companies added fewer workers than economists forecast. Australia’s dollar fell as the nation reported a trade deficit.