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Euro at Almost 7-Week High After German Orders Climb

The euro traded at almost a seven-week high against the dollar after a report showed Germany’s factory orders rebounded in June more than economists forecast, adding to signs the region is recovering.

The 17-nation currency rose versus most of its 16 major counterparts after separate data showed Italy’s recession eased in the second quarter. The yen touched an almost six-week high versus the greenback. The Australian dollar gained for a second day against the U.S. currency after the central bank damped expectations of further interest-rate cuts after reducing its benchmark to a record low.