The euro hit 2-week highs against the dollar on Friday, on pace for its best weekly performance since February, after a better-than-expected German business sentiment survey, but gains could fade on concerns over Spain's finances and uncertainty surrounding the upcoming French presidential elections.
The euro also got a boost after a Group of 20 official said the G20 would pledge to increase the International Monetary Fund's resources by more than $400 billion to fight the European debt crisis. In midday New York trading, the euro was up 0.6 percent at $1.3208, having hit a session high of $1.3224 after setting off stops above $1.3209. For the week, the euro was up 1.1 percent, on track for its largest weekly gain since February 26.
The dollar stood at 81.59 yen, bringing its April 10 peak of 81.85 yen into focus. The euro hit a 2-week high of 107.99 yen, and was last at 107.79, up 0.5 percent on the day. It has staged a strong comeback from Monday's trough of 104.60 yen. Sterling hit a 5-month high against the dollar of $1.6122.
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