“The yen weakened to a 16-month low against the euro on speculation the government will take steps to boost growth. European stocks and U.S. equity futures rose as U.S. lawmakers prepared to meet for budget talks. Italian 10- year bonds stayed lower after a debt auction.
The Japanese currency dropped 0.6 percent to 113.9 per euro as of 12:35 p.m. in London after weakening to 113.97, the lowest since Aug. 4, 2011. The Stoxx Europe 600 Index (SXXP) rose 0.3 percent, bringing this year’s advance to 15 percent. Futures on the Standard & Poor’s 500 Index increased 0.2 percent. Italian 10- year yields climbed four basis points. The cost of insuring against default on European corporate debt rose to a one-week high. Turkish stocks rose to a record…”
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