The euro fell against most of its 16 major counterparts as below-forecast European business data fueled speculation that the region’s economy may struggle further to recover.
The shared currency pared losses versus the dollar as European Central Bank President Mario Draghi didn’t signal additional monetary stimulus. The euro slid earlier as a German report showed business confidence fell more than forecast. Reuters reported European Commission official Antonio Tajani as saying the euro was too strong. Brazil’s real climbed on bets yesterday’s credit-rating cut will be the only one this year.