Euro Rises to Eight-Week High as Trichet Cites Recovery Signs
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The euro climbed to an eight-week high against the dollar as European Central Bank President Jean-Claude Trichet said the economic recovery is gathering momentum.
The yen and dollar dropped this week against most of their major counterparts as stocks rallied on evidence the world is weathering Europe’s sovereign-debt crisis, spurring demand for riskier assets. Canada’s currency rose the most in almost a month before the central bank’s policy meeting later in July as job creation was almost five times what economists forecast.