LONDON, Feb 23: The dollar rose against the euro after US authorities on Monday unveiled details of a new plan to inject funds into banks that appears to stop short of nationalisation.In late London trade, the European single currency weakened to $1.2737, against $1.2824 late on Friday.

Against the Japanese currency, the dollar firmed to 94.64 yen from 93.29 yen on Friday.

“Markets are unsettled by two fears right now: the nationalisation of US banks and the financial crisis hitting Eastern Europe,” said Ryohei Muramatsu, manager of Commerzbank’s Group Treasury Asia in Tokyo.

Gold prices fell below $1,000 an ounce after surging as high as $1,006.29 late on Friday as investors sought a safe haven for their cash amid plunging global stock markets.—AFP