Euro Rebounds as EU Plans Boost of Bailout Fund

The euro regained its footing today on the speculation the European policy makers will increase the rescue fund to help in battle with the debt crisis.
The Guardian newspaper reported France and Germany agreed to raise European Financial Stability Facility from the current level of â‚¬440 billion ($607 billion) to â‚¬2 trillion before the European Union summit this weekend. Financial Times Deutschland wrote German Finance Minister Wolfgang Schaeuble insisted that the EFSF should be boosted to â‚¬1 trillion. The Stoxx Europe 600 Index of shares rose 0.8 percent.
EUR/USD rose from 1.3752 to 1.3836 and EUR/JPY advanced from 105.64 to 106.24 as of 11:35 GMT today.

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