Euro rises after bond reports

The euro rose against most of its 16 major peers after two central bank officials said European Central Bank president Mario Draghi will announce unlimited sterilised bond buying to quell the region’s debt crisis.

The 17-nation currency climbed to a two-month high against the dollar last week amid optimism Mr Draghi would announce additional monetary stimulus at tomorrow’s ECB meeting.

Australia’s currency dropped to a seven-week low after the economy expanded less than forecast. Norway’s krone fell after manufacturing contracted for a third month amid dwindling demand from Europe.

Canada’s dollar remained lower even after the central bank governor Mark Carney reiterated that an increase in the central bank’s interest rate may be needed.