The euro is rising against the dollar after the European Central Bank left its benchmark lending rate unchanged.
Some economists expected the ECB to cut rates to help ease Europe's debt crisis, but bank President Mario Draghi said it's also up to governments to come up with a solution.
Traders also sold the dollar on rising speculation that the Federal Reserve might launch another round of bond-buying to help the U.S. economy. Atlanta's Fed president said in a speech that monetary actions need to be considered.
Bond buying lowers interest rates, and lower rates can weigh on a currency by reducing the returns investors get from holding it. With a third round of bond-buying mentioned, investors sold dollars.
The euro rose to $1.2557 in afternoon trading from $1.2446 late Tuesday.