AP News

Euro rises to 4-month high on German ruling

NEW YORK (AP) — The euro has hit a four-month high after Germany's highest court paved the way for the country to participate in Europe's financial rescue fund.

The ruling helps remove investor uncertainty about Europe's efforts to solve its debt crisis. The $640 billion rescue fund will loan money to cash-strapped governments.

The euro rose as high as $1.2936 on Wednesday, its highest point against the dollar since May 11, from $1.2897 late Tuesday.

The British pound rose to $1.6110 from $1.6092.

The dollar rose to 77.90 Japanese yen from 77.78.

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