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Summary Promises from German and French leader to protect euro has pushed single currency up against Dollar.
Promises from the leaders of Germany and France that they will protect the euro pushed the single currency to its highest point against the dollar in three weeks.German Chancellor Angela Merkel and French President Francois Hollande released a joint statement Friday saying they will do anything they can to stop the 17 countries that use the euro from breaking up. They didnt offer details.The euro has been weakening in recent weeks on fears that Spain may need a bailout.The statement comes a day after European Central Bank head Mario Draghi made similar comments, which also sent the euro higher.The euro jumped to $1.2389 Friday afternoon, its highest point against the dollar since July 6. It was worth $1.2286 late Thursday.The British pound rose to $1.5723 from $1.5690. The dollar fell to 0.9749 Swiss franc from 0.9775 Swiss franc and to 1.0043 Canadian dollar from 1.0097 Canadian dollar.The dollar rose to 78.61 Japanese yen from 78.21 yen.
