Dollar Gains Most in 10 Months Versus Euro on Demand for Safety

The dollar climbed the most since September against the euro as investors sought refuge after U.S. job growth fell short of forecasts and the European Central Bank said the region’s economy still faces risks.

The shared currency touched a two-year low versus the dollar amid concern an ECB cut in interest rates to a record low won’t be enough to stem the euro bloc’s debt crisis. The greenback’s advance was tempered by speculation the Federal Reserve may take further steps to boost growth, including a third round of debt purchases under quantitative easing. The U.S. central bank opens a two-day policy meeting on July 31.