Euro rises to highest level in six weeks against the yen

The euro roseto its highest levelin sixweeksagainst the yenon Friday after thereinforcedstatementsby German ChancellorAngelaMerkelon Thursdayexpectedto take action toaddress thedebt crisisin Europe.
Thedollar alsoroseto its highest levelin fiveweeksagainst the yenboosted byhighergovernment bond yieldsinthe USrecentlyin the wake ofstrong economic dataand the growingappetite forasset-riskwhathurtPalin, whois considereda safe haven forvalue.
The euro rose0.1 percentto98.263yen, its highestlevel sinceearly July, extending gainsafterthe averagemovein 55daysof97.997yen.
Andwill adopt theeuroat1.2352dollarsafter risingearlier to1.2375dollars.
The dollar index, which measures thepriceagainst a basket ofcurrencies of0.1 percentto82.457, butremained belowits highest level intwo weeksof $ 82.881, according toReuters

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