TD: Euro up against dollar, rises to $1.2491 in morning European trading
BERLIN (AP) - The euro is up a little more against the dollar as disappointing U.S. economic data and signs that European banks are less cash-strapped than feared support the 16-nation currency.
The euro bought $1.2491 in European morning trading on Friday, up from $1.2480 Thursday evening in New York.
The euro has gained traction after announcements this week by the European Central Bank suggested that banks' cash needs are easing despite worries about the eurozone debt crisis.
Also, a successful Spanish debt auction Thursday reassured investors and the latest economic data from the U.S. disappointed. A key monthly U.S. jobs report is due later Friday.
The British pound is up to $1.5175 from $1.5152 while the dollar was down to 88.00 Japanese yen from 88.49 yen.
