Euro Weakens Amid Concern Leaders May Fail in Debt Crisis Fix
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The euro declined against most of its major counterparts as concern increased that European leaders will struggle to agree to measures needed to stem the region’s debt crisis at a summit this week.
The 17-nation currency traded little changed against the dollar as three euro-area officials said that the European Central Bank may announce a range of measures tomorrow to stimulate bank lending. European leaders gather for a summit in Brussels the next two days. Australia’s dollar rose after gross domestic product grew faster than economists forecast last quarter.