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Euro Gains Before Loan Data as Stocks Rise, Yen Falls

Posted by Forexsq 116 days ago (http://www.bloomberg.com)

The euro strengthened to an 11- month high against the dollar before the European Central Bank gives the first indication how much of its loans banks plan to repay early. U.S. stock-index futures and European shares rose, while the yen weakened for a second day.

The euro climbed 0.4 percent to $1.3426 at 10:45 a.m. London time and the yen slid 0.6 percent versus the dollar. The pound dropped 0.1 percent to $1.5774, erasing earlier gains, after the U.K. economy contracted more than analysts anticipated. The Stoxx Europe 600 Index advanced 0.3 percent, extending a 23-month high. Standard & Poor’s 500 Index futures increased 0.3 percent as Starbucks Corp. climbed 2.6 percent. Lead and zinc jumped to three-week highs and European Union carbon permits headed for a record weekly decline.