Euro Rises for Fifth Day as EU Ministers Meet on Debt
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The euro strengthened for a fifth day versus the dollar on speculation European Union finance ministers meeting in Brussels will make further progress in their efforts to stem the debt crisis.
The 17-nation currency rose to a six-week high against the greenback after the officials confirmed a decision to give Greece until 2016 to meet deficit-reduction targets. The dollar fell for a second day versus the yen as President Barack Obama, in a Bloomberg Television interview, said a Republican offer to resolve the so-called fiscal cliff doesn’t go far enough. The Canadian dollar gained after Bank of Canada Governor Mark Carney kept his bias to raise interest rates.