Euro Rises Versus Dollar on Report ECB Exchanging Greek Debt

The euro rose as a report that the European Central Bank is exchanging Greek bonds for new securities bolstered speculation the nation will get its second bailout.

The dollar erased gains against a majority of its most-traded counterparts after data showed manufacturing in the Philadelphia area expanded by the fastest in four months and initial jobless claims fell to the lowest in four years. Sweden’s krona dropped to a two-week low after the central bank cut interest rates. The pound rose against the dollar as consumer confidence improved in January.