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Euro hits two-month high on less concerns about debt crisis

01-22-2011 14:24 BJT

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The euro has risen for the fourth straight session, bringing hopes the euro zone will find a durable solution for its debt crisis.

The euro jumped above one dollar and 35 cents on Friday. The two-month high was boosted in part by a report showing German business confidence rose to its highest level in 20 years in January. European banking shares also jumped on Spain's plan to partially take over its weakest saving banks.

Coupled with expectations of a strengthened euro zone rescue fund, the bank rescue plan in Spain also helped ease tensions over the European crisis. Meanwhile, world stocks have also gained as robust GE earnings foreshadow a stronger U.S. economy.

Editor:Yang Jie |Source: CNTV.CN

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