The euro rose to a six-week high versus the dollar as a Greek offer to spend as much as 10 billion euros ($13 billion) to buy back government securities eased concern the regions’ debt crisis is worsening.
The Canadian dollar weakened against its U.S. counterpart to the least since August as a lower-than- forecast advance in consumer prices added to speculation the central bank will place less emphasis on raising policy rates.
Canada’s dollar rose against most of its major counterparts, trading at almost a three-month high versus the U.S. currency, as speculation Greece will win its second bailout next week fueled demand for higher-risk assets.
The dollar dropped versus 13 of its 16 most-traded counterparts as speculation Europe’s debt crisis will ease and a report showing that U.S. unemployment-benefit applications fell spurred appetite for higher-yielding assets.
The Canadian dollar weakened against its U.S. counterpart by the most since May as a lower-than- forecast advance in consumer prices added to speculation the central bank will place less emphasis on raising policy rates.
The euro strengthened against all of its most-traded counterparts as German Chancellor Angela Merkel reiterated her commitment to working with the European Central Bank to resolve the region’s financial turmoil.
The euro slid the most in a week against the dollar and yen on concern Greece’s political leaders will fail to reach an agreement allowing the nation to receive a second bailout from international creditors.