A gain in the euro lost steam Friday, after the single currency firmed on German confidence data, as dealers awaited the outcome of key tests they hoped would show the European banking sector to be in sound financial health.

The euro climbed on Friday on strong German business confidence data, but dealers remained cautious before the publication of "stress tests" on the EU banking sector.

European equities held steady on Friday, after strong gains overnight on Wall Street and earlier in Asia, as investors eagerly awaited the outcome of "stress tests" on Europe's banks.

WASHINGTON (Reuters) - Democratic leaders in the U.S. House of Representative said on Thursday they will wait until at least September before taking any action on legislation to force China to revalue its currency.

Philip Morris International 2Q net income rises 28 percent with jump in shipments to Asia. Higher retail prices and a jump in shipment volume in Asia helped net income grow 28 percent for cigarette maker Philip Morris International, which sells cigarettes overseas only, the company said Thursday.

The European single currency rose on Thursday, the day before publication of "stress-tests" on the ability of EU banks to withstand shocks, while traders were reassured by data from the eurozone.

Swiss pharmaceutical giant Roche said Thursday its first half net income rose 37 percent compared to a year ago, thanks to lower than expected costs incurred in its buyout of US biotechnology unit Genentech.

BEIJING (Reuters) - China should let the yuan float within a wider range in a gradual process over the next five years, an official at a local branch of the central bank said in comments published on Thursday.

NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy faces "unusually uncertain" prospects, and that the central bank was ready to take further steps to bolster growth if needed.

London shares advanced on Wednesday along with other European shares, buoyed by strong results from iPad maker Apple and a late overnight surge on Wall Street.

China stocks and a rebound on Wall Street lifted Asian markets on Wednesday as investors anxiously await comments by US Fed chairman Ben Bernanke and stress tests on European banks.

The European single currency fell Wednesday as caution grew ahead of European banking sector "stress test" results and key testimony by the US Federal Reserve chairman, traders said.

China stocks and a rebound on Wall Street gave most Asian markets a lift on Wednesday as investors anxiously await comments by US Fed chairman Ben Bernanke and stress tests of European banks.

The Swiss National Bank said on Wednesday it expected to post a half-year loss of about four billion francs owing to massive foreign exchange losses incurred as its currency appreciated.

Export-driven China will let the yuan weaken against the dollar if overseas shipments falter significantly, a central bank adviser was quoted as saying Wednesday.

On the Call: Yahoo CEO Carol Bartz suspects stronger dollar curtailed ad spending in June. Yahoo Inc.'s second quarter was humming along until the second half of June when management said several major advertisers reined in their spending.

London shares closed lower on Tuesday, reversing earlier gains as investors digested downbeat US data, and bond auction news.

Growing optimism about China lifted stocks in much of the Asia-Pacific region on Tuesday, although global economic worries spooked Tokyo and Mumbai.

The euro briefly topped 1.30 dollars on Tuesday, nearing a 10-week high point as the US currency was plagued by renewed concerns over the US economic outlook.

US economic worries held back Japanese stocks on Tuesday but cautious optimism about China gave a lift to other markets around Asia-Pacific.