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The euro rose after German newspaper Die Welt reported that the European Central Bank is exchanging Greek bonds for new securities, bolstering speculation Greece will get its second bailout. The ECB is swapping its 50 billion-euro ($66 billion) Greek government bond holdings for new Greek bonds, Die Welt reported, citing unidentified central bank officials. The swap will be completed by Feb. 20, it said. An ECB spokesman declined to comment on the report.
The dollar erased gains against a majority of its most- traded counterparts after a report showed manufacturing in the Philadelphia area expanded by the fastest in four months and initial jobless claims fell to the lowest in four years.
The pound was the best performer against the dollar as consumer confidence improved in January. Nationwide Building Society said its U.K. sentiment index climbed to 47 in January from 38 the previous month. A gauge of consumers’ outlook for the economy jumped by 14 points, the Swindon, England-based customer-owned lender said.
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