Euro Strengthens Before ECB Meeting; Rand Declines
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The euro rose against all but one of its major counterparts as traders speculated that any stimulus measures this week from the European Central Bank won’t be enough to further weaken the 18-nation currency.
The shared currency rose from almost the lowest since February versus the dollar even after European inflation slowed. Two euro-area central-bank officials said ECB President Mario Draghi probably will signal any interest-rate cut won’t be the last. Investors bet the ECB might have plans to buy bonds under quantitative easing. South Africa’s rand sank on the outlook for Europe, the nation’s biggest trade partner.