Euro Pares Monthly Gain as Spanish Jobs, German Confidence Drop

The euro fell versus the dollar, paring a third monthly gain, as reports showed Spanish unemployment climbed to a record and German business confidence unexpectedly fell amid Europe’s three-year-old debt crisis.

The yen declined versus the greenback for a second week on speculation the Bank of Japan will expand monetary stimulus at a policy meeting Oct. 30. Europe’s 17-nation currency dropped versus most major peers as data showed services and manufacturing in the euro region contracted in October more than economists predicted. The U.S. unemployment rate rose in October, a Labor Department report next week may show.