Diamond Foods Inc. and Procter & Gamble Co. have called off their $1.5 billion deal for Diamond to buy the Pringles brand. Cereal maker Kellogg Co. is swooping and made a $2.7 billion deal to purchase the brand.FRANKFURT — The euro rose above $1.51 on Thursday as investors waited for clues from the European Central Bank on how it will start unwinding measures that have provided the financial sector with extra liquidity.
The 16-nation euro bought $1.5111 in European morning trading, up from $1.5036 late Wednesday in New York.
The British pound climbed to $1.6670 from $1.6640. The dollar rose against the Japanese currency, to 87.86 yen from 87.43 yen.
The ECB was on Thursday expected to keep its main interest rate unchanged at 1 percent — a record low, but still higher than the Federal Reserve's or the Bank of England's rates.
Higher interest rates can support a currency as investors move funds to where they earn the best returns.
The ECB was expected to provide details on how it will start winding down its extraordinary measures, which include cheap loans to banks that were used to provide the financial system with extra liquidity during the financial crisis.
"Even though momentum is still positive, below the $1.5145 level, there is a risk of further declines toward this week's lows at $1.4970 to $1.4980," said Michael Hewson, an analyst at CMC Markets.
A break below those levels "would then target the recent range lows around $1.4820 to $1.4830," Hewson said.
