Euro hits session high vs dollar

LONDON: The euro hit a session high against the dollar on Monday as European stocks rose on signs of a deal being reached to tackle the US fiscal cliff and optimism that EU leaders were closer to a resolution on Greece.

The euro rose 0.4 percent on the day to a session high of of $1.27880, with traders citing buying by model funds.

European Central Bank policymaker Joerg Asmussen said on Sunday the euro zone should agree this week on two years of funding for Greece and leave further help to be decided later.