14 March 2008, 18:13  Euro rises back towards 1.56

The euro rose back towards the 1.56 mark against the US dollar as the Federal Reserve and JPMorgan Chase said they will provide financing to Bear Stearns.Bear Stearns announced that its liquidity position has "significantly deteriorated" in the last 24 hours. The euro was trading at 1.5591 up from around 1.5560 usd prior to the announcement. Against the yen meanwhile, the dollar fell to 100.35 from around 100.87 previously.

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