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Euro rises on speculation Europe plan in works

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[June 05, 2012]  NEW YORK (AP) -- The euro is rising against the dollar on speculation that European leaders will work out a plan to help ease the region's debt crisis.

The euro rose to $1.2487 from $1.2416 late Friday. The euro fell nearly 6 percent against the dollar in May, as fears about Spain economy intensified and Greece was rocked by political turmoil.

Media reports that European leaders are working on a debt crisis fix boosted the euro, but there was no official announcement Monday.

The dollar was mixed against other currencies. It rose to 78.29 Japanese yen from 78.11 yen, but fell to 0.9625 Swiss franc from 0.9673 Swiss franc.

The British pound was flat at $1.5375. The British stock market is closed Monday for a public holiday.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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