Dollar falls against euro

NEW YORK (AP) — The dollar is falling against the euro on reports that European officials are working on a plan to protect banks and other countries from a Greek default.

Investors are hopeful that the plan, reported in British newspapers, could help resolve Europe's debt crisis. However, some European officials have denied that such a plan exists.

In late morning trading Monday, the euro rose to $1.3513 from $1.3467 late Friday. The British pound rose to $1.5542 from $1.5431. The dollar also fell to 76.35 Japanese yen from 76.72 Japanese yen and to 0.9016 Swiss franc from 0.9070 Swiss franc.