Associated Press | The dollar edged higher Wednesday
against the euro and the pound on concerns about the nearly $1 trillion
financing package for euro countries and the new British government’s
plan to reduce its debt. The euro dropped to $1.2639 in midday trading
in New York Wednesday from $1.2694 late Tuesday.

The euro has been under pressure because of fears that Greece’s
financial woes will drive up borrowing costs and perhaps lead to default
by other indebted euro countries such as Portugal. The debt problems
led some to speculate that some of the 16 countries using the common
currency could leave the monetary union.

Get the full story: Dollar extends gains on worries over debt plans.