Euro Weakens on Concern Ministers’ Actions Won’t Contain Crisis
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The euro fell, halting a two-day gain versus the dollar, after European finance ministers meeting in Poland ruled out efforts to prop up the region’s economy and gave no indication of providing added support for lenders.
The 17-nation currency pared its first weekly advance this month versus the greenback as European finance ministers meeting in Wroclaw, Poland ruled out efforts to prop up the faltering economy and raised issues of collateral demanded to take part in another Greek bailout at a meeting today. The Dollar Index rose for the first time in four days after a report showed consumer confidence rose more than forecast this month. Sweden’s krona and Norway’s krone fell as volatility deterred investors.