Bloomberg News

Euro Rises After European Central Bank Extends Loans Program

October 06, 2011

Oct. 6 (Bloomberg) -- The euro rose against the dollar and yen, erasing earlier losses, as speculation increased that a reintroduction of loans to banks by the European Central Bank will help buoy crisis-ridden markets.

The 17-nation currency earlier weakened as ECB President Jean-Claude Trichet said the region’s economy is facing “intensified downside risks.”

To contact the editor responsible for this story: Paul Cox at

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