NEW YORK (AP) — The euro is rising against the dollar on expectations that the European Central Bank will announce a plan to help ease Europe's debt crisis.
The ECB is meeting Thursday, and traders are expecting details of the plan. Expectations have been high since ECB President Mario Draghi said in July that the bank will do whatever it takes to save the single currency. However, he hasn't yet offered concrete details.
The euro rose to $1.2602 in afternoon trading from $1.2571 late Tuesday. The British pound rose to $1.5904 from $1.5879.
The dollar fell to 78.39 Japanese yen from 78.45 yen and to 0.9553 Swiss franc from 0.9555 Swiss franc.