Euro Rises 0.3% Versus Dollar After German Retail Sales Increase

The euro appreciated against the dollar and erased a decline versus the yen after German retail sales unexpectedly rose in February.

Europe’s shared currency advanced 0.3 percent to $1.2813 at 7:06 a.m. London time. It was little changed at 120.71 yen after depreciating 0.5 percent earlier.

German sales, adjusted for inflation and seasonal swings, gained 0.4 percent from January, the Federal Statistics Office in Wiesbaden said today. Economists forecast a drop of 0.6 percent, according to the median estimate in a Bloomberg 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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