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Dollar rises vs euro as traders watch budget talks

Source : AP
Last Updated: Sat, Dec 29, 2012 04:08 hrs

The dollar rose against the euro Friday as traders wait to see if lawmakers reach a budget deal before a deadline at the end of the year.

If a deal isn't reached in time, a series of broad tax increases and government spending cuts are set to kick in Jan. 1.

The euro fell to $1.3221 in late trading Friday from $1.3242 late Thursday.

The British pound rose to $1.6152 from $1.6108.

The dollar rose to 86.07 Japanese yen from 86.02 Japanese yen and to 99.63 Canadian cents from 99.49 Canadian cents.

The dollar was practically unchanged at 0.9132 Swiss franc from 0.9133 Swiss franc.

Trading was light with many market participants out on vacation between Christmas and New Year's.



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