NEW YORK: The euro briefly pared losses against the US dollar on Friday after Greece's finance minister dismissed market rumors about a near-term default.
The minister said rumors that Athens would default over the weekend were market speculation designed to hurt the euro.
The euro jumped above $1.37 after the headlines but gave up ground amid broad risk aversion and last traded at $1.3682, down 1.4 percent on the day, according to Reuters data.
"It is not the first time that an organised wave of 'rumors' about Greece going bankrupt emerges. It is a game in bad taste, an organised speculation against the euro and the euro zone as a whole," Evangelos Venizelos said in a statement, responding to rumours making the rounds on the Internet.
Copyright Reuters, 2011
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