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Euro rises on hopes Cyprus for bailout plan
Hopes that Cyprus will approve measures that will pave the way for a new bailout package and help the country avoid bankruptcy pushed the euro higher against the dollar Friday.
Cypriot lawmakers are expected to vote Friday on new measures they hope will qualify the country for a bailout package. Cyprus needs to raise $7.5 billion to get $12.9 billion in rescue loans from the EU and the International Monetary Fund. Cyprus risks going bankrupt and may have to leave the euro currency union if it doesn't come up with funds by next week. (AP)
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