American focus: Euro weakens on concern that ministers’ actions won’t contain debt crisis
The euro fell, halting a two-day gain versus the dollar, after European finance ministers meeting in Poland ruled out efforts to prop up the region’s economy and gave no indication of providing added support for lenders.
The Dollar Index rose for the first time in four days after a report showed consumer confidence rose more than forecast this month. The yen extended declines against the dollar after the Thomson Reuters/University of Michigan preliminary index of consumer sentiment climbed to 57.8 this month from 55.7 in August, which was the lowest level since November 2008.
The pound fell for a fourth week against the dollar on speculation a deteriorating economic outlook will spur the Bank of England to introduce additional monetary stimulus.