Euro Jumps vs Dollar as CIT Rescue Revives Risk Appetite - TheStreet

Euro Jumps vs Dollar as CIT Rescue Revives Risk Appetite

The euro rose to its highest level against the dollar since early June.
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The euro rose almost 1% to $1.4203 Monday morning, its highest level against the dollar since early June.

The British pound rose to $1.6466, while the dollar gained slightly against Japanese currency to trade at 94.4850 yen.

Prospects of a deal to rescue U.S. lender

CIT

(CIT) - Get Report

and optimism about corporate earnings appeared to increase investor appetite for risk , encouraging them to shift from the safety of the U.S. dollar.

The CIT board

approved a deal

with some of its major bondholders to help the struggling small business lender avert a bankruptcy filing through a $3 billion emergency loan.

This article was written by a staff member of TheStreet.com. The Associated Press also contributed to this report.