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Euro rises vs dollar as ECB eases bank lending

NEW YORK (AP) -- The euro rose modestly against the dollar Friday after the European Central Bank said it would make it easier for banks to take out loans to help boost Europe's economy.

The euro rose to $1.2561 in late trading Friday from 1.2558 late Thursday.

The central bank said it will allow banks to use more kinds of securities to be used as collateral. The bank is trying to make it easier for banks in the region to lend to people and businesses.

The dollar was mixed against other currencies Friday. The British pound fell to $1.5586 from $1.5594. The dollar rose to 80.45 Japanese yen from 80.29 yen.

The dollar fell 0.9560 Swiss franc from 0.9566 Swiss franc and to 1.0250 Canadian dollar from 1.0280 Canadian dollar.