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Summary The euro rose against the dollar after Greek leaders agreed on a cost-cutting plan.
The euro is rising against the dollar after Greek leaders agreed on a cost-cutting plan that should prevent the country from defaulting on its debt.The euro is up to $1.3281 in morning trading from $1.3254 late Wednesday. The euro rose as high as $1.3321, its highest point since Dec. 12.The deal was the first of two steps needed in order for Greece to receive a $170 billion bailout from other countries. Greece is close to reaching an agreement to sharply reduce what it owes private investors.Without a deal Greece, could have defaulted on its debt next month. A default would hurt European banks and disrupt financial markets.In other trading, the dollar is also falling against the British pound and the Swiss franc.
