Euro Rises on Optimism Over Greece; U.S. Index Futures Gain, Wheat Drops

The euro climbed to a three-week high versus the dollar, while Asian stocks and U.S. equity-index futures rose on speculation European nations will pledge more funds to repair Greece’s finances. Wheat sank the most in three weeks after Russia said it will allow grain shipments to resume.

Europe’s 17-nation currency strengthened 0.6 percent to $1.4374 as of 12:58 p.m. in Tokyo. The yen dropped against all 16 major peers after Moody’s Investors Service placed Japan’s sovereign rating on review for a downgrade. The MSCI Asia Pacific Index increased 1 percent, paring its biggest monthly loss in a year. Standard & Poor’s 500 Index futures added 0.6 percent. Wheat tumbled as much as 4.4 percent, oil gained 0.6 percent and copper snapped a four-day advance.

European Union leaders will decide on a new aid package for Greece by the end of next month, said Luxembourg’s Jean-Claude Juncker, 

Bloomberg..http://www.bloomberg.com/news/2011-05-30/euro-rises-on-optimism-over-greece-aid-u-s-index-futures-gain-oil-drops.html