“The euro strengthened to an eight- month high against the yen as European Union chiefs pledged to seek a joint strategy for handling failing banks, boosting demand for the region’s assets.
The 17-nation currency headed for a weekly gain versus the dollar as EU leaders agreed to start work next year on a single resolution mechanism for euro-area banks. The yen fell to the weakest level since March against the dollar after a quarterly gauge of business confidence dropped more than economists forecast, supporting the case for more monetary easing from the Bank of Japan. (8301) The Swedish krona fell to the lowest in five months versus the euro.”
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