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    Euro rises as traders favor riskier currencies

    Associated Press – Tue, Aug 7, 2012

    NEW YORK (AP) — The euro is rising against the dollar for the third day in a row as traders feel more comfortable buying riskier currencies.

    Riskier currencies such as the euro tend to rise when investors think economic conditions are getting better.

    Last week the U.S. government reported that employers added 163,000 jobs last month, far more than economists had forecast. Traders are also expecting that the European Central Bank will step in to help ease the region's debt crisis

    The euro rose to $1.2425 in midday trading from $1.2399 late Monday.

    The British pound rose to $1.5657 from $1.5611. The dollar fell to 0.9670 Swiss franc from 0.9692 Swiss franc.

    The dollar rose to 78.72 Japanese yen from 78.22 yen.

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