Euro Gains Versus Major Peers on ECB Speculation; Real Tumbles

The euro strengthened against most major peers amid speculation the European Central Bank won’t add to monetary accommodation efforts that may push the shared currency lower.

The yen gained for the first time in four days versus the dollar after minutes of the Bank of Japan’s October meeting showed some officials saw risks to the economy. Europe’s 17-nation shared currency climbed versus the greenback as China’s central-bank governor said it was important to his nation’s reserve management and an ECB policy maker said inflation should pick up gradually. Brazil’s real fell against most major counterparts.

The euro strengthened 0.4 percent to $1.3572 per dollar at 5 p.m. New York time after rising to $1.3575, the highest level since Nov. 20. The 17-nation currency was little changed at 137.46 yen. Japan’s currency appreciated 0.4 percent to 101.28 per dollar after gaining 0.5 percent, the most since Nov. 13.

Australia’s dollar fell 0.8 percent to 92.44 yen after decreasing 1 percent to 92.25, the weakest since Oct. 10.

The Bloomberg U.S. Dollar Index, which tracks the currency against 10 major counterparts, fell 0.2 percent to 1,018.83 after gaining 0.1 percent.

(Source: Bloomberg)