Dollar rises against euro, British pound

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Dollar rises against euro, British pound

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Dollar gained value against major currencies as investors searched for safe places to park money.

26 June,2012 02:45 am

The dollar gained value against the euro, the British pound, the Swiss franc and the Canadian dollar on a day when the U.S. stock market reflected deepening worries over Europes debt crisis. The Dow Jones industrial average fell as much as 183 points in intraday trading after Spains government formally asked Europe to help it with its struggling banks.The euro fell to 1.2495 Monday, from $1.2561 Friday. The dollar rose to 0.9610 Swiss franc from 0.9560 Swiss franc. The British pound fell to 1.5563 from $1.5586. The dollar rose to 1.0296 Canadian dollar from $1.0250.The exception was the Japanese yen, against which the dollar lost more than 1 percent of its value. The dollar fell to 79.68 yen from 80.45 yen. Both the yen and the dollar are considered safer, less-risky investments in tumultuous markets.