Euro Rises on Speculation Region’s Leaders Will Contain Crisis
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The euro strengthened versus the dollar as investor bets increased that leaders in the region will agree on measures to aid member nations that are struggling to pay their debts.
The 17-nation currency gained against most of the major currencies after Germany’s lower house of parliament approved the expansion of a bailout fund to help contain the sovereign-debt crisis. The yen touched below 77 per dollar for the first time in two weeks as stocks rose, spurring demand for higher-yielding assets. New Zealand’s dollar weakened after Fitch Ratings cuts its long-term foreign-currency issuer default rating.