Euro Erases Advance Versus Dollar, Is Little Changed at $1.2996

The euro erased its advance against the dollar, to trade little changed at $1.2996 as of 7:51 a.m. London time.

The currency climbed as much as 0.5 percent earlier after Cyprus agreed to the outlines of an international bailout that will eliminate the threat of default.

Europe’s shared currency was 0.3 percent stronger at 123.04 yen, after advancing 0.9 percent earlier.

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