“The euro strengthened from a four- month low against the dollar on speculation the European Central Bank’s pledge to provide liquidity to Cyprus will give it time to renegotiate a financial rescue package.
The 17-nation currency gained for the first time in eight days versus the Swiss franc as the ECB yesterday reaffirmed its commitment to offer funding to Cyprus “within the existing rules,” after Cypriot lawmakers rejected a levy on bank deposits. The Dollar Index (DXY) fell as demand for safety waned and investors awaited the Federal Reserve’s policy decision. The pound rose afterBank of England minutes showed Governor Mervyn King was outvoted in a bid to expand stimulus….”
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