Business

Dollar Climbs as China Rules Out Currency Change; European Stocks Rebound

Bloomberg
The dollar rose against the euro and the yen after China ruled out any “sudden changes” to its foreign-reserves policy. European stocks climbed, rebounding from their first back-to-back weekly declines since March. The dollar gained as much as 0.5 percent versus the euro as of 11:39 a.m. in London, and 0.4 percent against the yen. The Dow Jones Stoxx 600 Index of European shares climbed 1 percent. Deutsche Telekom AG advanced on speculation Vodafone Group Plc will bid for the Germany company’s U.K. mobile telephone unit.
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Posted by Editor at June 29, 2009 07:08 AM