NEW YORK (Dow Jones)--The euro rose to two-month highs against the dollar on Tuesday, as a fleeting reprieve of investors' deep concerns about the crisis in Egypt and some firmer economic data in Europe drove a firmer tone for riskier assets. "Better than expected data worldwide are helping markets get back into risk on mode," strategists at Brown Brothers Harriman said in a research note. "However, the situation in Egypt remains in flux and could cast a negative pall on markets in the coming days." Earlier, the euro hit its highest level against the dollar since Nov. 22, at about $1.3776 according to EBS via CQG. Early Tuesday in New York, the euro was trading around $1.3747 from $1.3694 late Monday in New York. Against the yen, the dollar was at Y81.57, down from Y82.04 late Monday. Dealers were watching for the outcome of the U.S. Institute For Supply Management manufacturing survey due at 10 a.m. EST. The median market forecast is for a reading of 58.0 in January, from the previous, revised 58.5 reading and any stronger number would likely support the dollar. -By Enda Curran, Dow Jones Newswires; 201 938-2453; enda.curran@dowjones.com

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