The euro rose for a fourth day versus the dollar in Forex Accounts

The euro rose for a fourth day versus the dollar in Forex Accounts

The euro rose for a fourth day versus the dollar in Forex Accounts and yen on bets an agreement to rescue Irish banks will prevent contagion across the region’s debt markets.


The common currency reached a one-week high versus the greenback after European Union finance ministers said the deal will create a capital fund for Ireland’s lenders.

New Zealand’s dollar slid after Standard & Poor’s Ratings Services revised its outlook on the nation’s foreign currency sovereign credit ratings to negative.

The U.S. dollar fell before the Federal Reserve releases tomorrow minutes of this month’s meeting when policy makers decided to buy $600 billion in Treasuries.

The euro rose to $1.3759 as of 1:49 p.m. in Tokyo from $1.3673 in New York on Nov. 19 and touched $1.3768, the most since Nov. 12. The single currency gained 0.5 percent to 114.74 yen.

The dollar fell to 83.39 yen from 83.55 yen. New Zealand’s currency dropped 0.7 percent to 77.36 U.S. cents.

Ireland’s request for a bailout makes it the second euro member to seek a rescue from the EU and the International Monetary Fund.

The European Central Bank said in a statement yesterday that it is “confident” the program will help ensure the stability of the nation’s banking system.

Fed Chairman Ben S. Bernanke said Nov. 19 that the use of securities purchases for monetary policy affects asset prices “quite significantly.”