Euro edges higher against greenback

New York

THE euro recovered from a nine-day low against the US dollar on Friday on reduced concerns surrounding Deutsche Bank's health, while the greater calm over Germany's biggest lender pressured the safe-haven yen and Swiss franc.

Deutsche Bank's US-listed shares were last up nearly 15 per cent after touching record lows on Thursday. The immediate cause of the Deutsche crisis is a fine, disputed by the bank, of up to US$14 billion by the US Department of Justice over its sale of mortgage-backed securities.