The euro rose against the dollar, snapping its biggest two-day drop since 2008, on prospects the region’s debt crisis won’t keep the European Central Bank from increasing interest rates.
The common currency gained versus most major peers after European Union officials agreed in an unannounced meeting on May 6 to ease the terms of the 110 billion-euro ($158 billion) lifeline Greece received last year, showing their determination to hold the euro region together.
The yen fell against the euro amid speculation traders took advantage of the Japanese currency’s advance to an almost six-week high to sell it.
The Australian dollar rose for a second day before data tomorrow forecast to show China’s imports increased in April.
Losses in the U.S. dollar were tempered before U.S. reports this week that may show fewer initial jobless claims and increased retail sales, providing evidence the recovery of the world’s largest economy is maintaining momentum.
EUR/USD: the pair become stronger above a mark $1.4400.
GBP/USD: the pair bargained within the limits of $1.6330-$ 1.6410.
USD/JPY: the pair bargained within the limits of Y80.50-Y80.95.