The euro rose against the dollar on Friday on hopes for a breakthrough in Greece's attempts to avoid a messy default, although data indicating a bumpy road ahead for the US economy kept trading choppy. European officials voiced optimism on Friday that Greece could reach a debt with creditors to avoid a disorderly default.
Greek Finance Minister Evangelos Venizelos told reporters that his country is just "one step away" from completing a debt-swap deal with its private creditors. The euro climbed to $1.3192, up 0.68 percent against the dollar for the day so far, at midday in New York, following a morning of choppy trading in which it flitted in and out of negative territory after the US economic data. Against the Swiss franc, the greenback also seesawed after the GDP data.
At midday in New York trading, the US dollar was off 0.61 percent at 0.9146 francs. Against the yen, the euro underperformed, down 0.35 percent at 101.10 yen as the Japanese currency recovered broadly from lows struck this week. The dollar fell nearly 1 percent to 76.67 yen, leaving the yen on track for its biggest daily gain since late August.
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