The euro rebounded from yesterday’s drop to the eight-month low after global stocks advanced as the leaders of the Group of Twenty nations meet in Washington.
Investors hope the G-20 policy makers will discuss the global economic imbalances and find a way to help the Eurozone in dealing with its debt crisis. The Standard & Poor’s 500 Index rebounded 0.6 percent, following the drop by 0.7 percent. The index is still down 6.6 percent over this week.
EUR/USD rose from 1.3463 to 1.3498 and EUR/JPY advanced from 102.62 to 103.14 today as of 16:38 GMT.