Euro rises to session high versus dollar

LONDON Fri Aug 31, 2012 10:11am BST

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LONDON Aug 31 (Reuters) - The euro rose to a session high against the dollar on Friday in nervous trade before a speech by Federal Reserve chairman Ben Bernanke, with traders citing buying by Middle East and east European names which triggered stop loss buy orders.

The euro rose to $1.25580 on EBS trading platform, with traders saying it broke above stop loss orders at $1.2540. More gains could see it target the 100-day moving average at $1.2583.

Some traders said figures showing euro zone inflation jumped more than expected in August helped encourage euro buying.

Sterling also rose to a session high of $1.5827.