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Euro Rises Versus Dollar After German Business Confidence Climbs

Nov. 23 (Bloomberg) -- 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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