The euro rose to the strongest level in almost two weeks as Greece™s government was said to retreat from a demand for a debt writedown, boosting optimism the region won™t face a renewed crisis.
Australia™s dollar tumbled to the weakest level since May 2009 after the Reserve Bank of Australia joined a growing number of central banks that are boosting monetary stimulus to address slowing economic growth and inflation. Denmark™s central bank sold a record amount of kroner last month to protect its peg to the shared currency, while Russia™s ruble gained.
The 19-nation euro gained 1.1 percent to $1.1470 at 12:05 p.m. New York time, after slumping last month to the weakest level since 2003. The currency added 1.1 percent to 134.58 yen.
The euro advanced versus most of its major peers after Greece™s Finance Minister Yanis Varoufakis outlined plans to swap some Greek debt owned by the European Central Bank and the European Financial Stability Facility for new securities, according to a person who attended the meeting and asked not to be identified because they weren™t authorized to speak publicly.
Source : Bloomberg