The euro rose against most of its major counterparts as traders speculated any stimulus measures this week from the European Central Bank won’t be enough to further weaken the 18-nation currency.
The shared currency strengthened from almost its lowest level in three months versus the dollar even as a report showed the jobless rate in the euro area was near a record low in April. Australia’s dollar advanced after the Reserve Bank said growth appeared to be accelerating. Brazil’s real climbed versus its 16 major peers after the central bank increased support for the currency. South Africa’s rand dropped.
The euro gained 0.3 percent to $1.3638 at 9:14 a.m. New York time, after weakening 0.3 percent yesterday. The currency fell to $1.3586 on May 29, the weakest since Feb. 13. The euro advanced 0.3 percent to 139.64 yen. The U.S. currency was little changed at 102.40 yen after gaining 0.6 percent yesterday.
South Africa’s rand was the biggest loser among 16 major peers amid the outlook for sluggish growth in the euro region, the country’s biggest trade partner. The rand depreciated as much as 0.8 percent to 14.6429 per euro, the weakest since May 7, before trading at 14.6336, down 0.7 percent.
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