LONDON, Nov 24: The euro strengthened on Monday as investors digested a massive bailout of US banking giant Citigroup and government action in Britain to bolster consumer spending in the face of a looming recession.

Analysts said the Citigroup rescue and the British stimulus package made investors less anxious about leaving such traditional safe havens as the dollar and the yen.

The single European currency in late-day trade was at $1.2875 against $1.2587 on Friday.

The euro also moved up to 123.62 yen from 120.71 on Friday.

The dollar was at 96.32 yen, up from 95.89 on Friday.—AFP