Bloomberg News

Euro Stays Higher Against Dollar After German Investor Sentiment

October 16, 2012

The euro stayed higher against the dollar and the yen as a report showed German investor confidence gained for a second month in October.

Europe’s common currency rose 0.4 percent to $1.3001 at 10:05 a.m. London time, and was 0.7 percent firmer against its Japanese counterpart at 102.55 yen.

The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to minus 11.5 from minus 18.2 in September. Economists forecast an increase to minus 14.9, according to the median of 36 estimates in a Bloomberg News survey.

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Tim Farrand at tfarrand@bloomberg.net


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