EURO updates – € Rebound
European leaders agreed on an aid plan for Greece, easing concern the nation’s debt crisis will spread and derail the global recovery. Which helped Euro to rebound and asian markets to gain the momentum.The yen gained from an 11-week low against the dollar. The MSCI Asia Pacific Index climbed 0.6 percent to 124.04 at 11:45 a.m. in Singapore. Futures on the U.S. Standard & Poor’s 500 Index were little changed.
The euro advanced 0.4 percent to $1.3325 from $1.3273 in New York yesterday, gaining for the first time in four days. It fell earlier to $1.3268, the weakest level since May 7. Against the yen, the 16-nation currency gained 0.2 percent to 123.31.
The yen climbed to 92.49 versus the dollar from 92.73 yesterday, on speculation Japanese exporters took advantage of its largest weekly loss this year to buy the currency before the fiscal year ends next week. The yen fell to 92.96 yesterday, the lowest since Jan. 8.