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The euro gained for a second day versus the dollar and yen as the International Monetary Fund proposed raising its lending capacity by as much as $500 billion to protect the global economy amid Europe’s debt turmoil. The 17-nation currency rallied against most of its major peers as Greek officials resumed negotiations with bondholders. The euro rallied versus the dollar and yen as an IMF spokesman said in a statement that the Washington-based lender wants to increase its resources after identifying a potential need for $1 trillion in coming years. The IMF is studying options and will not comment further until it has consulted its members, the fund said.
The dollar fell against the euro on reduced demand for a refuge as U.S. data showed a rebound in industrial production. The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against the currencies of six major U.S. trading partners, fell 0.7 percent to 80.522.
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