FOREX-Euro rises against dollar as EU summit nears

(Reuters)- The euro rose against the dollar on Wednesday on cautious optimism that euro zone leaders may reach a deal to ease Greece's debt problems, though concerns remained about contagion to other countries in the region.

Signs of progress on a U.S. budget deal also prompted a rise in risk tolerance. A group of Democratic and Republican senators presented a new plan late on Tuesday that could revive stalled U.S. debt talks and avert a default by the world's biggest economy. Read more here…