Euro hits session high, traders cite Nowotny comments

by on July 25, 2012 7:13 am BST

LONDON, July 25 |
Wed Jul 25, 2012 3:13am EDT

(Reuters) – The euro reversed losses to hit
a session high against the dollar on Wednesday, with traders
citing a media report that European Central Bank policymaker
Ewald Nowotny saw grounds for giving the euro zone bailout fund
a banking licence.

The euro jumped to $1.2115 from around $1.2060
beforehand. It then pared gains to last trade up 0.2 percent on
the day at $1.2081.