Euro rises against dollar before Merkel, Lagarde meetJanuary 10, 2012 - 12:06 AMT PanARMENIAN.Net - The euro rose a second day versus the dollar before Germany’s chancellor and the International Monetary Fund’s managing director meet amid optimism Europe’s leaders are taking steps to resolve the debt crisis. The 17-nation currency also strengthened against the yen after advancing Monday, January 9 as the leaders of Germany and France discussed a rulebook for closer fiscal union within the euro area. The franc maintained a three-day gain versus the euro on prospects traders may test Switzerland’s currency ceiling after central-bank Chairman Philipp Hildebrand’s resignation. The Australian and New Zealand dollars climbed as Asian stocks rose, boosting demand for higher-yielding assets. “Some positive comments from European leaders are assisting the euro, though traders are cautious, waiting to see what action plan is put in place and how bond yields react,” said Tim Waterer, a currency dealer at CMC Markets in Sydney. “Short-term we could see the euro crawl back up to $1.2850.” German Chancellor Angela Merkel said Greece would be the focus of talks with IMF Managing Director Christine Lagarde on Tuesday in Berlin. “We want Greece to stay in the euro,” Merkel said in a joint press conference with French President Nicolas Sarkozy after the two leaders met Monday, Bloomberg reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |