The euro strengthened against the dollar, rebounding from a two-year low.

The 17-member currency advanced 0.1 percent to $1.2306 at 11:38 a.m. London time, after earlier dropping to $1.2251, the weakest level since July 2010.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net