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- Euro rose due to the successful results of the EU summit
Euro rose due to the successful results of the EU summit
The euro rose against the dollar after European leaders have lowered credit conditions for Spanish banks, taking a step to resolving the debt crisis in the region and increased demand for Eurocurrency.
President of the European Union, Herman Van Rompuy said that officials at a meeting in Brussels agreed to waive the condition that emergency loans for Spanish banks will be provided with privileged conditions.
EU leaders will meet today at the second day of talks to discuss measures to stem the debt crisis, which led to what is already five countries of the euro area called for help. Earlier this month, Spain has agreed to accept a rescue loan of 100 billion euros to help recapitalize the banking sector.
The dollar index, since the decision of EU leaders have reduced investors' appetite for risky assets.
The yen fell against all major currencies, as rising U.S. bond yields helped to attract more money into dollar-denominated securities, which caused the weakening of the yen.
The Canadian dollar rose to a maximum of 30 November, as rising stocks and commodities caused the increased demand for higher-yielding assets.
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