Euro Heads for Biggest Two-Day Rally Since 2009 on Aid Package
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The euro headed for its biggest two-day rally versus the dollar since March 2009 after European policy makers announced a loan plan of almost $1 trillion to aid debt-laden governments and shore up the 16-nation currency.
The yen dropped against all of its major counterparts including the Swedish krona and Mexican peso as the package revived demand for currencies related to economic growth. The euro rose the most against the yen in 18 months as officials announced bond purchases to combat a sovereign-debt crisis that sent the common currency to a 14-month low last week.