FRS: Euro up against the dollar after German report
The euro has gained on the dollar as key indicators showed the German economy, Europe's largest, is sustaining robust growth.
The 16-nation currency bought $1.2736 in early Thursday trading, up from the $1.2657 it fetched in New York overnight, after an indicator of German business confidence rose Wednesday to a three-year high. Data from the GfK institute released Thursday showed German consumer confidence equally strong.
At the same time, the U.S. economy has suffered through two days of terrible data, tarnishing its appeal as a safe haven.
In other currencies, the British pound also climbed on the dollar to $1.5570, from the $1.5451 it bought overnight. The dollar held steady against the Japanese currency, at 84.73 yen.
