Euro rises on Spain bailout hopes

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Euro rises on Spain bailout hopes

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Euro rose against the dollar on hopes that Spain will ask for aid from Europe's bailout fund.

22 September,2012 04:01 am

The euro rose against the dollar Friday on hopes that Spain is getting closer to asking for financial aid from Europes bailout fund.Speculation is rising that Spain is negotiating with its partners in the euro zone on a new economic reform program. The reform would help the country make a formal request for aid.The euro rose to $1.2989 in late trading Friday from $1.2967 late Thursday. The euro is down 1.2 percent for the week, but is still up 3 percent so far in September.The British pound rose to $1.6247 from $1.6211.The dollar fell to 78.15 Japanese yen from 78.26 Japanese yen, to 0.9323 Swiss franc from 0.9330 Swiss franc.The dollar rose to 97.71 Canadian cents from 97.66 Canadian cents.