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Last updated: June 18, 2010 7:03 a.m.
Euro up against dollar
Associated Press
BERLIN (AP) — The euro is trading higher against the dollar following a European Union summit where the 27-nation bloc pledged to introduce more transparency for its banking system.
The euro rose to $1.2396 in early European trading Friday, up from $1.2379 late Thursday in New York.
It gained over the week, from four-year lows below $1.19 last week, after positive economic data and a rise in global stock markets reassured investors.
European leaders on Thursday agreed to publish the results of "stress tests" on European banks in their latest attempt to restore investor confidence.
The British Pound rose to $1.4834, up from $1.4810 on Thursday in New York. The dollar also inched up against the Japanese Yen, buying 90.86, up from 90.82 Japanese Yen.
