Economics
Euro Approaches Seven-Month High After Merkel Win; Aussie Gains
This article is for subscribers only.
The euro approached a seven-month high versus the dollar after Germany’s voters put Angela Merkel on course for the biggest election win since Helmut Kohl’s 1990 post-reunification victory.
The U.S. currency fell against the yen as markets assess when the Federal Reserve will reduce the pace of its bond purchases. Federal Open Market Committee voting member William C. Dudley is scheduled to speak today following comments from Bank of St. Louis President James Bullard indicating an October move is possible. Australia’s dollar rose after a gauge of Chinese manufacturing was stronger than analysts had forecast.