While you were sleeping Euro gains as Greece offers to buy back bonds

Mon, 03 Dec 2012

Dec. 4 (BusinessDesk) – The euro rose to a six-week high against the dollar after Greece offered to buy back 10 billion euros of bonds in what’s seen as a sign of progress in tackling its debt mountain. As talks in Washington aimed at averting the fiscal cliff appear stalled, a chink of light has flowed into markets from Europe. The euro traded recently at $1.3065 from $1.3006 in late New York trading on Friday. The Dollar Index, which tracks the greenback against six major currencies, fell to 79.819, the lowest since late October. Greece’...

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