Euro Falls Versus Dollar for 2nd Week on Stress Tests, Ireland
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The euro fell for a second week against the dollar after eight banks failed the European Union stress tests and Ireland was downgraded by Moody’s Investors Service.
The U.S. currency strengthened after a report showed U.S. consumer prices excluding food and energy increased for a second month, cutting chances of additional stimulus from the Federal Reserve. Australia’s dollar fell against most its major peers as investors anticipated central bank will cut interest rates in December.