Euro Rises Toward 16-Month High Versus Dollar on Growth Outlook
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The euro strengthened toward a 16-month high versus the dollar after a report showed French business confidence was at a three-year high.
The dollar headed for a weekly decline against all its 16 major counterparts as traders reduced bets the Federal Reserve will increase interest rates this year. The Australian dollar traded near a record high as commodity price gains and signs of quickening growth backed the case for higher borrowing costs. The yuan rose to a 17-year high amid speculation China will allow faster appreciation to help temper inflation.