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BS:Euro keeps pushing higher against US dollar
 
The euro sustained its week-long push higher against the United States dollar, buoyed by Greece earning a two-year extension on its deficit target from the European Union.

At 0900 AEDT the euro was $US1.3096, compared to $US1.3051 at the end of the previous session.

The yen gained on both, rising to ¥81.88 to a dollar from ¥82.24, and to ¥107.22 per euro from ¥107.36.

The euro was strengthening going into European Central Bank and Bank of England policy meetings, with the ECB not expected to cut rates despite the stagnant economy and lower inflation pressures.

The US dollar's weakness came also as Democrats and Republicans in Washington appeared to be toughening stances in crunch talks to avoid the fiscal cliff.

US President Barack Obama signalled in an interview with Bloomberg TV that a narrow agreement might be achieved to help the country get past the cliff's harsh tax hikes and spending cuts slated for January 1, but that details of a broader long-term deficit reduction plan would still have to be hashed out next year.

The euro jumped against the Swiss franc, to 1.2134 francs from 1.2084, after Credit Suisse announced it would charge interest on large franc deposits, sending customers fleeing into euros, Neal Gilbert of GFT said.

"In a rush to get their money away from the franc and avoid the fee, the euro-franc rocketed skyward and lent some support to the euro-dollar as well as other risk currencies overnight and throughout the day," he said.

The US dollar climbed to 0.9264 francs from 0.9255.

Meanwhile the British pound edged higher on the greenback to $US1.6098, from $US1.6090.
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