Euro rises from 4-month low against dollar

AP News

5/21/2012 4:12:42 PM - AP News

The euro rose against the dollar Monday despite ongoing concerns about Europe's debt crisis.

The euro rose to $1.2793 in late trading Monday from $1.2737 late Friday. The euro hit a four-month low against the dollar on Thursday.

The euro has fallen over 2 percent against the dollar since anti-bailout political parties made gains in elections in Greece in early May. But Greek leaders weren't able to form a new government, so Greece will hold new elections next month.

Over the weekend, leaders from eight of the world's biggest economies met in Washington and said they favored pursuing growth in Europe, but failed to create a plan to do so.

In other trading Monday, the British pound rose to $1.5807 from $1.5803. The dollar fell to 0.9391 Swiss franc from 0.9430 Swiss franc and to $1.0190 Canadian dollar from 1.0213 Canadian dollar.

The dollar rose to 79.36 Japanese yen from 79.08 yen.