The dollar is falling against the euro and most other major currencies ahead of a meeting of European Union leaders.
Investors expect that the summit, taking place Thursday, will produce some sort of agreement to help stem the region’s debt crisis. Talks will focus on a new aid package for Greece and ways to stop the debt crisis from spreading to Spain and Italy.
In afternoon trading Wednesday in New York, the euro rose to $1.4198 from $1.4134 late Tuesday. The British pound rose to $1.6144 from $1.6120. The dollar fell to 78.76 Japanese yen from 79.24 Japanese yen and fell to 0.8203 Swiss franc from 0.8240 Swiss franc.