NEW YORK (AP) — The euro is rising against the dollar in volatile trading as traders digest the European Central Bank's new plan to help ease Europe's debt crisis.
The central bank said that it will buy unlimited amounts of government bonds from countries struggling to manage their debts.
The euro rose as high as $1.2651 before the announcement, its highest point against the dollar since July 2. It fell after the announcement, and then rose again. It was worth $1.2631 in midday trading, up from $1.2599 late Wednesday.
The British pound rose to $1.5932 from $1.5904.
The dollar rose to 78.95 Japanese yen from 78.41 yen.