Early trade in New York: euro rises versus dollar

The euro rose to a near four-month high against the dollar on Wednesday and looked set to extend gains on growing expectations interest rates in the eurozone will rise earlier than those in the United States. The Swiss franc soared to a record high versus the dollar as escalating tensions in Libya and fears of contagion to other oil-rich countries, especially Saudi Arabia, prompted investors to seek safety in the Swiss currency.
The euro climbed as high as $1.3890 on trading platform EBS, its strongest level since November 9. It last traded at $1.3870, up 0.7 percent on the day.