Euro Touches Month-High as Spain Keeps Investment Grade
This article is for subscribers only.
The euro strengthened to a one-month high against the dollar after Spain kept its investment-grade credit rating from Moody’s Investors Service before European leaders gather tomorrow for a two-day summit in Brussels.
The yen fell to its lowest level against the dollar in almost a month after a Nikkei report said the Bank of Japan will face pressure to boost monetary stimulus at its next meeting ending Oct. 30. The dollar weakened versus all of its major peers as U.S. housing starts rose to a four-year high last month, damping demand for safer assets. The 17-nation euro appreciated for a fifth day versus the yen as Spanish and Italian bonds rallied.