Euro rises ahead of Greek vote

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Associated Press

Posted on June 15, 2012 at 1:00 PM

Updated Friday, Jun 15 at 1:01 PM

The euro is rising slightly against the dollar on expectations that global central banks are willing to help if Europe's debt crisis gets worse.

Traders will be watching Sunday's Greek election closely. If a new government rejects terms of the country's bailout loans, Greece could be forced to abandon the euro currency. That could shake confidence in the euro and disrupt financial markets.

Reuters reported that central banks from major economies would help stabilize markets depending on the outcome of the elections. That helped push the euro higher.

The euro rose to $1.2626 Friday from $1.2600 late Thursday.

The British pound rose to $1.5649 from $1.5533. The dollar fell to 78.67 Japanese yen from 79.27 yen and to 0.9514 Swiss franc from 0.9531 Swiss franc.

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