Euro falls against dollar on German survey

AP News
|
Posted: Sep 24, 2012 1:12 PM
Euro falls against dollar on German survey

NEW YORK (AP) — The euro is falling against the dollar after a closely-watched survey said that business optimism in Germany fell for the fifth month in a row.

Germany's Ifo index of business confidence fell to 101.4 in September from 102.3 in August. The results are a sign that Europe's debt crisis is hurting the region's largest economy.

The euro fell to $1.2912 in afternoon trading from $1.2989 late Friday.

The British pound fell to $1.6203 from $1.6247.

The dollar rose to 77.85 Japanese yen from 77.15 yen and to 0.9370 Swiss franc from 0.9323 Swiss franc.