Currencies

Euro Strengthens on Speculation Greece's Deficit Crisis Has Been Contained The euro rose against most of its major counterparts as German government bonds dropped to the lowest level in more than two weeks on optimism Greece’s budget- deficit crisis has been contained.

Feldstein Says Euro's Declines Are a Result of `Panic Selling' Over Greece Harvard University Professor Martin Feldstein said the euro’s 4.6 percent decline against the dollar this year has been “panic selling” stemming from the financial crisis in Greece.

Global Currency Trading Rises 17% to $2.7 Trillion a Day, RBA Report Shows Global currency trading rose to $2.7 trillion a day between April and October, the first growth since the six months to April 2008, the Reserve Bank of Australia said, citing data from five markets.

Dollar to Keep Reserve Role If Markets Stay Sound, Standard & Poor's Says The dollar will retain its status as the world’s reserve currency as long as U.S. financial markets are sound and government spending is sustainable, Standard & Poor’s said.

Venezuela Bolivar May Sink as Low as 9 Per Dollar This Year, Barclays Says Venezuela’s bolivar may fall as low as 9 per dollar in the “worst scenario” as the government refrains from selling U.S. currency in the unregulated market to preserve foreign reserves, Barclays Plc said.

Canadian Dollar Declines as U.S. Trade Data Damps Demand for Risk Assets Canada’s dollar dropped for the first time in 10 days as speculation global growth is slowing reduced demand for higher-yield currencies tied to commodities.

El-Erian Says World Economy May Face Disruptive Sovereign Debt Imbalances Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances may affect the global economy more than is currently realized.

Swiss Franc Weakens Against Euro; SNB Says It Will Prevent Excessive Gains The Swiss franc weakened from its strongest level in a year against the euro after the central bank said it will slow the currency’s appreciation to protect Switzerland’s economic recovery.

British Pound Strengthens Against Dollar, Euro After BOE Inflation Survey The pound strengthened, snapping a three-day decline against the dollar and the euro, after U.K. inflation expectations climbed to the highest since November 2008, fueling speculation interest rates may rise.

Hildebrand Says Swiss Central Bank Will Tighten Policy Stance Eventually Swiss central bank head Philipp Hildebrand said officials won’t keep interest rates close to zero indefinitely as the economy shows signs of recovery.

Goldman Sachs Lowers Forecasts for Euro on Growth, Pound on U.K. Election Goldman Sachs Group Inc. cut its forecasts for the euro against Norway’s krone, the Swiss franc, the Swedish krona and Polish zloty, citing an “increasing focus on growth differentiation.”