Euro Rises to 8-Week High on Greek Speculation; Aussie Rallies
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The euro rose to the highest in eight weeks against the dollar as Greek officials and creditors worked on the final draft of an agreement on budget and structural measures needed to free up a second aid package.
The 17-nation currency strengthened as Prime Minister Lucas Papademos prepared to meet with the European Commission, the European Central Bank and the International Monetary Fund to put the final touches to the document. The Dollar Index fell to its lowest since December as stocks and commodities erased earlier losses. Australia’s dollar surged after the central bank unexpectedly kept interest rates unchanged.