The euro snapped a five-day advance against the dollar, German 10-year bonds rose, while most European stocks fell before leaders hold a summit tomorrow to discuss ways to contain the region’s debt crisis. Industrial metals leading gains in commodities. The 17-nation currency weakened 0.2 percent to $1.3905 at 8:11 a.m. in London. Yields on 10-year German bunds declined two basis points to 2.10 percent. About two shares declined for every one that gained on the Stoxx Europe 600 Index, which decreased 0.2 percent. Standard & Poor’s 500 Index futures retreated ...
The dollar and the yen fell as stocks rallied after Europe’s leaders inched toward a revamped strategy to contain the region’s debt crisis, sapping demand for the safest assets. The euro reached a six-week high against the dollar after French Finance Minister Francois Baroin said he’s “convinced” policy makers will reach a deal by Wednesday. The yen weakened against most of its major counterparts after Japan’s Finance Minister Jun Azumi said he will take “decisive” action on the currency if needed. Australia’s dollar advanced after a preliminary index of Chinese purchasing managers rose, boosting demand for ...
The euro advanced for a second day versus the dollar as reports thatFrance and Germany are nearing a deal to boost the size of Europe’s rescue fund to contain the debt crisis spurred demand for the region’s assets. The shared currency strengthened against all except two of its 16 major peers as the Guardian newspaper reported the two nations support increasing the 440-billion euro ($607 billion) European Financial Stability Facility to 2 trillion euros before a summit this weekend. The dollar, yen and Swiss franc declined as stocks advanced. South Korea’s won rose to the strongest in a month after ...
The pound rose against the dollar and the yen amid reports that Franceand Germany are taking steps to resolve the region’s debt crisis and as investors awaited the minutes the Bank of England’s latest policy meeting. Sterling snapped a two-day decline versus the greenback as U.K. stocks gained after the Guardian newspaper said Germany and France agreed to boost the region’s rescue fund. A person with direct knowledge told Bloomberg News no deal has been reached. The Bank of England minutes, showing how policy makers voted this month, will be published at ...
The euro weakened after Moody’s Investors Service said France’s top credit rating is under pressure, adding to concern European leaders will find it difficult to resolve the region’s debt crisis. The 17-nation currency fell for a second day against the dollar and the yen as a slide in European stocks damped demand for the region’s assets. The yen and dollar strengthened versus most major counterparts as speculation Europe’s woes will slow global growth spurred investor appetite for safer assets. Asian currencies weakened, lead by the Malaysian ringgit and Philippine peso, after a Chinese report showed economic ...
