Economics
Euro Rallies on Optimism Region’s Economic Growth Will Improve
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The euro rallied for the sixth time in seven weeks on optimism the region’s economy will continue to rebound from contractions in 2012 and 2013 following the financial crisis.
The 17-nation currency gained as the current-account surplus widened to 21.8 billion euros ($30 billion) in October, the highest since 1997, while a report on Jan. 2 is forecast to confirm that euro-area factory output grew at a 31-month high in December. Brazil’s real surged as traders speculated central-bank intervention will prevent it from falling further after tumbling 2.4 percent the previous week. Turkey’s lira fell to a record amid concern a showdown between the government of Prime Minister Recep Tayyip Erdogan and the judiciary will worsen.