NEW YORK ? The euro is rising against the dollar on hopes that a new plan to stop Europe's debt crisis from spreading is in the works. A strong start to the U.S. shopping season also helped boost the euro.
Hopes rose Monday that the International Money Fund is putting together a $794 billion rescue package for Italy. Investors are hoping that European leaders will finally agree on a solution to the region's debt crisis.
The euro rose to $1.3337 in midday trading Monday from $1.3230 late Friday.
In the U.S., a retail association said that more shoppers visited stores and websites during the Thanksgiving weekend than last year.
In other trading, the British pound rose to $1.5549 from $1.5433. The dollar rose to 78.04 Japanese yen from 77.76 Japanese yen.
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