BLBG:Euro Pares Gains Against Dollar as Germany’s Meister Says No ‘New Bazooka’
The euro pared its gains against the dollar after the finance spokesman for Chancellor Angela Merkel’s Christian Democratic party said Germany has no “new bazooka” to fight the European sovereign debt crisis.
Europe’s common currency traded 0.3 percent stronger at $1.3525 at 9:23 a.m. London time, after gaining as much as 0.5 percent. The euro was 0.4 percent stronger at 104.08 yen, cutting a gain of as much as 0.6 percent.
“We haven’t any new bazooka to pull out of the bag,” Michael Meister said in a telephone interview today.
To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
