Euro Drops to Five-week Low as Weber Cites ECB Liquidity Plan

The euro fell to the lowest level in five weeks against the dollar after European Central Bank council member Axel Weber said the region’s economy may need help from the central bank through the end of the year.

The shared currency dropped to the least since July 1 versus the Swiss franc after Weber told Bloomberg Television the ECB should assist banks to prevent year-end liquidity tensions. The yen rose this week versus 14 of its 16 major counterparts on signs the global economic recovery is slowing, boosting demand for the currency as a refuge.