NEW YORK -The dollar climbed Friday as worries over who would provide aid for Greece and other debt-laden European countries sent investors scurrying for the safety of the U.S. currency.
The 16-nation euro dropped to $1.3536 in late trading in New York from $1.3621 late Thursday. The euro has fallen steadily this year from above $1.51 in late November as worries about swelling debt and deficits in Greece, Portugal and other countries roiled credit markets and undermined the stability of Europe's monetary union.
Now, concern about Europeans fighting over whether the International Monetary Fund should step in to aid debt-plagued countries or whether the European Union itself should find a solution helped drive the euro lower, said Marc Chandler of Brown Brothers Harriman in New York.
Greece said on Thursday it would have to turn to the IMF for aid if the EU does not quickly extend a rescue package to help it trim its borrowing costs.
The EU on Friday pushed for Germany and other countries using the euro to help Greece with aid in order to defend the stability of the 16-country bloc.
Calling in emergency help from an outside organization would be seen as embarrassing for the euro and the countries that use it. The IMF typically aids less developed countries.
Meanwhile, the British pound tumbled to $1.5020 from $1.5252, and the dollar rose to 90.49 Japanese yen from 90.31 yen.
The dollar also rose to 1.0598 Swiss francs from 1.0573 francs and climbed to 1.0161 Canadian dollars from 1.0129 Canadian dollars.
