Euro Falls Toward Week Low Before Europe Leaders Meet on Crisis

The euro fell toward its lowest level in a week against the dollar on concern European leaders will be unable to agree on steps to contain the region’s debt crisis at a summit this week.

The yen headed for a one-week high versus the euro before Spain and Greece sell as much as 5.75 billion euros ($8.1 billion) of bills today. Australia’s dollar pared earlier gains after minutes of the July policy meeting showed the Reserve Bank has scope to extend an interest-rate pause because risks posed by Europe’s debt crisis and a slower-than-forecast domestic recovery eased inflation concerns.