Markets

Euro rallies as IMF beef up lending instruments

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The IMF said its more flexible Precautionary and Liquidity Line (PLL) would act as "insurance against future shocks and as a short-term liquidity window to address the needs of crisis bystanders."

The euro was last up 0.3 percent at $1.3535, moving closer to the global session peak of $1.3568.

Copyright Reuters, 2011