Euro rises against dollar on hopes Spain will ask for financial aid

The euro is rising against the dollar on speculation that Spain is getting closer to asking for financial aid from Europe's bailout fund.

Hopes rose after it was reported that Germany's economy minister will meet with his Spanish counterpart on Wednesday. A request for aid from Spain will help remove some uncertainty about Europe's debt crisis from the market.

The euro rose to $1.2936 from $1.2886. The British pound rose to $1.6154 from $1.6133.

The dollar fell to 0.9351 Swiss franc from 0.9383 Swiss franc.

The dollar rose to 78.10 Japanese yen from 78.02 yen.