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Euro Vs Dollar As Europe Raises Bailout Fund

Sean Gallup/Getty Images

NEW YORK (AP) — The euro is rising against the dollar after the 17 nations that use the euro added to their bailout fund for countries troubled by debt.

The euro group raised the emergency fund to to $1.1 trillion. In Spain, the new conservative government unveiled a $36 billion deficit-reduction plan, including spending cuts and a rise in taxes for big companies.

The euro is up to $1.3330 in midday trading from $1.3287 late Thursday. The British pound rose to $1.5986 from $1.5931.

The dollar fell to 0.9023 Swiss franc from 0.9074 Swiss franc. The dollar was flat at 82.40 Japanese yen.

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