Euro rises against dollar to $1.2627

The euro rose against the dollar Wednesday after the U.S. posted a sharp fall in producer prices. The 15-nation euro traded at $1.2627 in early European trading, up from $1.2579 late Tuesday in New York. The U.S. Labor Department announced Tuesday that wholesale prices of consumer goods, food and energy dropped 2.8 percent in October, the largest decline in the more than 60 years such records have been kept. Energy prices dropped 12.8 percent. Falling prices give central banks room to cut interest rates as worries about inflation... [read full story]