LONDON, June 12 (Reuters) - The euro rose to a fresh 3-1/2 month high versus the dollar on Wednesday as investors cut favourable positions in the U.S. currency on renewed expectations the Federal Reserve's may keep its monetary policy ultra-loose.
The euro rose 0.1 percent to $1.33305, its highest since Feb 25. Traders cited offers at $1.3390. A reported option expiry at $1.3300 could keep the currency close to that level.
Traders also attributed the euro's rise to unwinding of long bets in emerging market and commodity currencies and on an ECB policymaker Joerg Asmussen's comments.
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