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The euro weakened against a majority of its most-traded counterparts after German and French leaders refrained from introducing a mechanism for the region to jointly issue debt to contain its sovereign-debt crisis.
The 17-nation currency briefly pared losses after French President Nicolas Sarkozy said after a meeting with German Chancellor Angela Merkel that France and Germany are working on “ambitious” joint proposals to defend it. The Swiss franc erased gains against the dollar and euro after U.S. industrial production climbed in July, curbing the currency’s haven appeal. The pound rose versus the dollar after data showed U.K. inflation accelerated more than forecast.
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