Euro Rises Most Since January as Officials Increase Greece Financial Aid

The euro gained the most against the dollar in four months this week after Greece was given more assistance to address its debt crisis, boosting confidence the region’s nations will be able to meet their obligations.

Europe’s shared currency reached a four-week high yesterday after Luxembourg’s Jean-Claude Juncker, who leads the group of euro-area finance ministers, said they agreed to pay the next installment to Greece under last year’s 110 billion-euro ($161 billion) bailout. The U.S. currency dropped to a record against the Swiss franc after the jobless rate unexpectedly rose to 9.1 percent. European Central Bank policy makers may consider increasing interest rates when they meet next week.

“People are taking the package as a positive factor,” said David Mann, regional head of research for the Americas at Standard Chartered Plc in New York. “Combined with the relative performance of the data out of the U.S. versus Europe, that has been a positive for now for the euro.”

The euro rose 2.2 percent to $1.4635, from $1.4319 May 27, and touched $1.4643, the highest level since May 5. It was the currency’s biggest weekly gain since Jan. 14. It added 1.6 percent to 117.48 yen, from 115.67 last week. The dollar dropped 0.6 percent to 80.34 yen, from 80.80.