The euro and the yen solidified gains Tuesday after an index of U.S. consumer confidence published by a private research group, the Conference Board, fell unexpectedly this month to a reading of 88.7 from a revised 94.1 in October.
The 18-nation euro strengthened after failing to break through the $1.24 level, pushing the shared currency up from almost a two-year low reached as the European Central Bank considers increased monetary stimulus.
Of several risks to the Bank's forecast for UK growth, Mr Carney identified the situation in the euro as the biggest. "This is still an economy that requires monetary stimulus to grow above trend and bring inflation back to target," the Governor said ...
The euro rose against the dollar on Monday as investors wagered that surprisingly robust numbers on German business confidence could delay a move by the European Central Bank to purchase sovereign debt and weaken the common currency.