“The dollar strengthened the most in a week and European stocks retreated as U.S. lawmakers prepared to debate tax increases and spending cuts that take effect next month. Italian bondserased losses as the government sold debt.
The Dollar Index rose 0.4 percent at 10:35 a.m. in London. The Stoxx Europe 600 Index fell 0.3 percent and Standard & Poor’s 500 Index futures lost 0.2 percent. The yield on Italian 10-year bonds erased an earlier gain of as much as four basis points as demand increased at an auction….”
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