CORRECTED-Euro rises, bunds cut gains on Cyprus-Greek deal on banks

Fri Mar 22, 2013 7:07am EDT

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(Corrects day in first paragraph)

LONDON, March 22 (Reuters) - The euro rose to a session high versus the dollar and recovered from a two-week low against the yen on Friday after the Cyprus said there was an agreement with Greece to spin off Greek units of Cypriot banks.

The euro rose to $1.2945 and was up 0.3 percent on the day against the dollar. The euro also recovered from the two-week low against the yen of 121.44 yen to last trade at 122.38 yen, flat on the day.

German Bund futures cut gains to touch a session low of 144.54. They were last 14 ticks up on the day at 144.60.

Gilt futures halved early gains to stand 16 ticks up on the day at 117.82.

(Reporting by London Markets Team, editing by Anirban Nag)

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