Euro rises, bunds cut gains on Cyprus-Greek deal on banks

LONDON: The euro rose to a session high versus the dollar and recovered from a two-week low against the yen on Friday after the Cyprus said there was an agreement with Greece to spin off Greek units of Cypriot banks.

The euro rose to $1.2945 and was up 0.3 percent on the day against the dollar. The euro also recovered from the two-week low against the yen of 121.44 yen to last trade at 122.38 yen, flat on the day.

German Bund futures cut gains to touch a session low of 144.54. They were last 14 ticks up on the day at 144.60.

Gilt futures halved early gains to stand 16 ticks up on the day at 117.82.