The euro rose to a 2-1/2-week high on Friday, as dealers said speculators anticipated increased demand for the common currency arising from a Japanese bank's plans to purchase the multi-billion dollar aviation finance business from a German bank.
The euro rose 0.35 percent to $1.1289 after touching $1.1294, its highest since March 26. The common currency also advanced about 0.4 percent to 126.23 yen, its strongest since March 21.
Dealers said speculators were buying the euro in response to reports on Mitsubishi UFJ Financial Group's planned purchase of the aviation financing business of Germany's DZ Bank. As of June last year, that business stood at 5.6 billion euros.
Source : Reuters