Euro Advances for Second Day as Spanish Bailout Wagers Persist
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The euro gained versus the dollar for a second day as speculation persisted that Spain will eventually seek a bailout even after Prime Minister Mariano Rajoy said a request for rescue funds is not imminent.
The yen fell versus most major currencies on bets Japan may act to weaken the currency, while the euro rose against most peers as Spanish bonds advanced before the European Central Bank meets Oct. 4. South Africa’s rand gained versus the greenback for the first time in three days. The Australian dollar slid to a three-week low against its U.S. peer after the Reserve Bank of Australia unexpectedly cut its benchmark interest rate.