Euro recovers and rallies against the dollar

NEW YORK: The euro rallied from the session low and traded higher against the dollar on Friday as some investors unwound safe haven positions in the aftermath of Greek votes on austerity measures earlier this week.

Thin trading ahead of the US long holiday weekend exacerbated price moves, traders said.

The euro was up 0.1 percent to $1.4521, according to Reuters data. The euro has gained 2.3 percent this week, the first weekly gain in four weeks.

Copyright Reuters, 2011