The euro was seen higher against the US dollar

The euro was seen higher against the US dolalr as stock gains accelerated, boosting risk appetite. Adding to this, the euro gained against the dollar when Moody’s Investors Service downgraded Greece’s credit rating, rekindling fears about excessive debt levels in several euro zone countries.
The euro rose as high as $1.2295. Against the yen, the euro gained 1.6 percent to 112.76.