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Summary Euro rose after election results in Spain made it more likely that country will ask for a bailout.
The euro rose against the dollar Monday after regional election results in Spain made it more likely that the country will ask for a bailout.Spains Prime Minister Mariano Rajoy won an election in his home state. The results were seen as a vote of confidence in Rajoys handling of the economy. Traders expect Spain to ask for financial aid from Europes bailout fund soon.The euro rose to $1.3045 late Monday from $1.3023 late Friday.The Japanese yen fell to its lowest level against the dollar in over three months after Japan said that its exports fell 10.3 percent in September from a year earlier. The country said it was hurt by Europes debt crisis. The dollar jumped to 79.89 Japanese yen Monday from 79.28 Japanese yen late Friday.The British pound fell to $1.6006 from $1.6014. The dollar rose to 99.38 Canadian cents from 99.34 Canadian cents.The dollar fell to 0.9275 Swiss franc from 0.9285 Swiss franc.
