The euro rose, headed for its first two-month advance against the dollar since March 2008, on growing evidence Europe is emerging from its worst recession. The 16-nation currency gained for an eighth day versus the pound, its longest streak in four years, before a European report forecast to show business and consumer confidence rose to the highest level in 10 months.
The yen fell against all 16 major counterparts after Japanese government reports showed unemployment rose to a record and consumer prices slumped. Japan’s opposition party may win elections on Aug. 30, polls show, halting the ruling party’s half-century grip on power.
The euro rose to $1.4359 as of 6:30 a.m. in London from $1.4341 in New York yesterday, when it reached $1.4406, the highest level since Aug. 7. The currency has advanced 0.7 percent this month. It climbed to 134.56 yen from 134.14 yen, and strengthened to 88.25 British pence from 88.07 pence.
The yen fell to 93.71 per dollar from 93.52 yesterday. It weakened to 78.64 per Australian dollar from 78.48, and traded at 64.34 versus New Zealand's dollar from 64.28.
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