Euro rises to 11-week high against the dollar

[February 25, 2012]  NEW YORK (AP) -- The euro rose to an 11-week high against the dollar on increasing optimism about the global economy.

Investors are also looking ahead to a weekend meeting of the finance ministers from the world's 20 leading economies.

The euro rose to $1.3466 in afternoon trading Friday from $1.3337 late Thursday. The euro rose as high as $1.3486 earlier in the day, its highest point since Dec. 5.

The euro rose to a two-month high on Thursday after business confidence surged in Germany. Investors interpreted the results that Germany is recovering even as many other countries that use the euro are struggling.

The dollar is also falling against the British pound and Swiss franc.

[Associated Press]

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