Dollar rises from lows as Europe's leaders bicker (AP)

The dollar is rising off recent lows against the euro as traders monitor Europe's uncertain progress toward resolving its debt crisis.

The euro rose to its highest in a week against the dollar early Wednesday on optimism about a plan to help Greece avoid a potentially catastrophic default. But published reports Wednesday suggested there are growing differences between Europe's leaders. They reportedly disagree about how much of a loss banks should take on their massive holdings of Greek debt.

A default by Greece would threaten major banks in Germany and France. The bailout is designed in part to support those banks.

At 11 a.m. Eastern time, the euro is worth $1.36, from $1.3641 late Tuesday. The dollar rose against the British pound but fell against the Japanese yen.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20110928/ap_on_bi_ge/us_dollar

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