Bloomberg News

Euro Rises Versus Dollar After German Business Confidence Climbs

November 23, 2012

The euro advanced against the dollar after data showed German business confidence unexpectedly rose in November.

Europe’s shared currency climbed 0.2 percent to $1.2905 at 9:05 a.m. London time. It was 0.2 percent weaker at 106.03.

The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, climbed to 101.4 from 100 in October for its first gain in eight months. Economists predicted a drop to 99.5 according to the median of 48 forecasts in a Bloomberg News survey.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net


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