Euro erases losses vs dollar, trades higher

NEW YORK Tue Nov 13, 2012 11:18am EST

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NEW YORK Nov 13 (Reuters) - The euro erased losses against the safe-haven U.S. dollar and Japanese yen on Tuesday as risk aversion abated somewhat.

The euro, which reached a more than two-month low against the dollar earlier in the global session, last traded at $1.2718 , up 0.1 percent on the day, after dropping as low as $1.2660, its lowest since Sept. 7.

The euro also erased losses against the yen to last trade at 101.02 yen, flat on the day, according to Reuters data.

Major U.S. stock market indices either turned positive or added to gains.

The euro was earlier weighed down by disappointment over a delay in aid to debt-laden Greece, poor economic data out of Germany and worries about a looming U.S. fiscal crisis.

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