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Euro Weakens as ECB’s Stark Adds to Region’s Financial Concern

The euro fell against the yen on speculation European banks will struggle to raise funds amid signs the recovery in the region is faltering.

Europe’s currency weakened versus 11 of its 16 major counterparts after FT Deutschland reported European Central Bank Executive Board member Juergen Stark as saying some German banks need more capital. The yen rose against 12 of its 16 most-traded peers after the Organization for Economic Cooperation and Development said the global recovery is slower than projected. Australia’s dollar rose to a four-month high against the greenback after a report showed the South Pacific nation added more jobs in August than economists forecast.