Midday trade: Euro rallies across the board

The euro rallied strongly across the board on Wednesday after traders bought it on a raft of rumours suggesting official actions could make the currency more attractive. Market talk on potential meetings or action by the European Central Bank - or even that Greece would consider leaving the EU, strongly denied by the Greek government- pushed the euro higher.
The currency rebounded from a four year low reached before the New York session after Germany's ban on Tuesday of naked short selling of some securities. The euro was last up 1.2 percent against the dollar at $1.2328 after going as high as $1.2366. The euro was last up 1.7 percent against the Swiss franc at 1.4242 Swiss francs after going as high as 1.4304 francs.