Major Forex News
Euro Climbs Amid Speculation Cyprus Contagion Will Be Contained
The euro rose against the dollar, signaling waning concern that contagion from Cyprus will infect the rest of the 17- nation currency bloc.
Europe’s shared currency climbed against 15 of its 16 major peers with Cypriot lawmakers scheduled to debate legislation to help the country obtain a bailout and stave off financial collapse. Marios Mavrides, a lawmaker with Cyprus President Nicos Anastasiades’s ruling Disy party, said the government must pass the bill to protect the island nation.
The euro climbed 0.3 percent to $1.2936 at 6:55 a.m.
New York time. Europe’s shared currency was little
changed at 122.31 yen, after dropping as much as 0.8 percent.
