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The euro rose from a three-month low as Europe’s bailout fund confirmed that aid to Greece had been received and officials said progress was made forming a government, easing concern the nation will leave the monetary union. Greece’s socialist leader Evangelos Venizelos said he saw the first “good omen” in four days of attempts to form a coalition government and avert a new election. Greece “can continue to function with the disbursement,” commission spokesman Olivier Bailly told reporters in Brussels after yesterday’s European Financial Stability Facility decision to disburse immediately only 4.2 billion euros ($5.4 billion) of a 5.2 billion-euro loan tranche. The remaining 1 billion euros will be “disbursed in due time to cover future needs.”
The British pound rose against the dollar after the Bank of England’s Monetary Policy Committee held its quantitative easing target at 325 billion pounds ($525 billion), ending a second round of stimulus.
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