The dollar rose against the euro

Forex Wrap: The dollar rose against the euro Monday after Treasury Secretary Henry Paulson named intervention a policy tool at the department's disposal. Comments by Federal Reserve Bank of New York President Timothy Geithner also offered support. The latest advance was part of the dollar's ongoing bounce back from last week's lows against the euro, when European Central Bank President Trichet mentioned the possibility of an interest rate hike, which he reiterated Mon. The greenback also rose against the yen throughout the day. Monday afternoon in New York, the euro was at $1.5656 from $1.5776 late Friday, while the dollar was at Y106.15 from Y105.00. The euro was at Y166.20 from Y165.60 late Friday, according to EBS. The U.K. pound was at $1.9755 from $1.9700, while the dollar was at CHF1.0266 from CHF1.0194 late Friday.