Euro falls against dollar on German survey

Associated Press Modified: September 24, 2012 at 5:30 pm •  Published: September 24, 2012

NEW YORK (AP) — The euro fell against the dollar Monday after a closely-watched survey found that business optimism in Germany fell this month.

Germany's Ifo index of business confidence fell to 101.4 in September from 102.3 in August. Economists expected no change.

It's the fifth month in a row the index has fallen. The results are a sign that Europe's debt crisis is hurting Germany, the region's largest economy.

The euro fell to $1.2935 in late trading Monday from $1.2989 late Friday. The British pound fell to $1.6224 from $1.6247.

The dollar rose to 0.9355 Swiss franc from 0.9323 Swiss franc and to 97.84 Canadian cents from 97.71 Canadian cents.

The dollar also strengthened against currencies in Australia, New Zealand, Norway, South Korea, Hong Kong and Brazil.

The dollar fell to 77.86 Japanese yen from 78.15 yen.

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