The Associated Press: Euro rises above $1.30 as worried investors eye US

The euro rose Friday to its highest level in two months, topping $1.30 as worried investors shift their focus from the European debt crisis to slowing growth in the U.S.
The dollar also hit a low for the year versus the Japanese yen as investors sought out the Japanese currency as their preferred safe-haven asset.

The dollar got a huge boost this year as European governments said their debts were swelling, triggering fears about the effect of defaults on European banks and slashed government spending on weak economies. However the dollar is slipping now due to easing concerns about a banking crisis in Europe, coupled with declining interest rates in the U.S. said Ashraf Laidi, the chief market strategist at CMC Markets in London.

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