Euro up against dollar

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FE Team | Published: January 03, 2013 00:00:00 | Updated: February 01, 2018 00:00:00

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SINGAPORE, Jan 2 (AFP): The euro surged against the dollar on Wednesday as traders flocked to the riskier single currency after the US Congress endorsed a deal to avert the "fiscal cliff" budget crisis. The euro strengthened to $1.3258 in afternoon Asian trade from $1.3192 on Monday. The euro was at 115.51 yen from 114.45 yen. The dollar rose to 87.12 yen from 86.69 yen. Congress's success in passing the deal earlier Wednesday spurred traders to shift their investments from the safe-haven greenback to riskier currencies, said Jason Hughes, head of premium client management for IG Markets Singapore. "The greenback has continued to lose ground in Asian trade, as the bill to avert the immediate fiscal cliff danger was passed through various votes in Congress," he told the news agency.