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Dollar tumbles to post World War II low versus yen, euro climbs on hopes for new debt plan

The euro climbed against the dollar on Friday on hopes that European leaders can put together a comprehensive plan to solve the region’s debt crisis.

Meanwhile, the dollar fell to its lowest point against the Japanese yen since World War II. The yen has risen 6.5 percent this year against the U.S. currency despite Japan’s efforts to slow its climb. A strong yen can hurt Japanese companies selling goods overseas.

European financial ministers are meeting this weekend to figure out how to add more firepower to a bailout fund, and are tentatively scheduled to meet next week to come up with a broad solution.

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