Bloomberg News

Euro Advances as China Says It Will Do Its Part to Raise Resources of IMF

February 26, 2012

The euro gained versus most of its major peers after China’s central bank Governor Zhou Xiaochuan told reporters that the country will do its part to boost resources for the International Monetary Fund.

The dollar climbed to its highest level in almost nine months against the yen.

The euro rose 0.6 percent to 109.83 yen as of 7:53 a.m. in Tokyo from 109.18 in New York on Feb. 24. The common currency traded as high as 109.91, its strongest level since Oct. 31. It advanced 0.1 percent to $1.3468. The dollar climbed as much as 0.6 percent to 81.67 yen, its highest level since May 31, before trading at 81.55.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net


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