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Euro Gains as China Will Do Its Part to Increase IMF Resources

The euro gained versus most of its major peers after China’s central bank Governor Zhou Xiaochuan told reporters that the country will do its part to boost resources for the International Monetary Fund.

The dollar climbed to its highest level in almost nine months against the yen.

The euro rose 0.6 percent to 109.83 yen as of 7:53 a.m. in Tokyo from 109.18 in New York on Feb. 24. The common currency traded as high as 109.91, its strongest level since Oct. 31. It advanced 0.1 percent to $1.3468. The dollar climbed as much as 0.6 percent to 81.67 yen, its highest level since May 31, before trading at 81.55.

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