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The euro rose to a more than one- month high against the dollar as German lawmakers approved Greece’s latest rescue package amid optimism U.S. politicians will agree on a new budget.
The euro gained versus most major peers as legislators in Germany’s lower house of parliament, or Bundestag, voted 473-100 to ratify an agreement forged among euro-area finance ministers on Nov. 27 to cut the rates on Greece’s bailout loans, suspend interest payments for a decade, give the country more time to repay and engineer a buyback of its bonds.
The yen slid to the weakest in seven months versus the shared currency after data showed Japan’s consumer prices stagnated in October, adding to speculation the central bank will increase stimulus to spur inflation.
The yen fell versus the majority of its 16 most-traded peers as Japan’s consumer prices excluding fresh food were unchanged in October from a year earlier after a 0.1 percent decline in September, the statistics bureau said in Tokyo today. The BOJ has an annual inflation target of 1 percent.
The Japanese currency was set for its biggest monthly decline versus the euro since February as Japan opposition leader Shinzo Abe called for measures to boost inflation. The nation will hold elections on Dec. 16 for the lower house of parliament, which determines who will be prime minister.
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