Dollar Gains as Fiscal-Cliff Debate Spurs Safety Bid; Euro Falls
World BusinessDec 28, 2012
The dollar rose the most in a week against the euro as concern U.S. lawmakers will fail to avert the so-called fiscal cliff of more than $600 billion of tax increases and spending cuts spurred demand for safer assets. The U.S. currency strengthened against most of its 16 major counterparts before President Barack Obama meets Democratic and Republican congressional leaders today as a year-end budget deadline approaches. The yen earlier fell to a 28-month low versus the dollar after Japanes