Euro rises after EU sources say draft deal reached on Cyprus

SINGAPORE, March 25 Sun Mar 24, 2013 8:02pm EDT

SINGAPORE, March 25 (Reuters) - The euro rose on Monday after EU sources said Cyprus's president and the European Union have agreed the outlines of a rescue deal that would include the creation of a "good bank" and a "bad bank".

The euro rose 0.3 percent on the day to $1.3027, compared to roughly $1.2985 just before the news. Against the yen, the euro climbed 0.7 percent on the day to 123.57 yen .