Reuters: US Dollar Report: Euro slips, bunds rise as German Ifo falls short of expectations

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Euro slips, bunds rise as German Ifo falls short of expectations Sep 24th 2013, 08:12 LONDON, Sept 24 | Tue Sep 24, 2013 4:12am EDT LONDON, Sept 24 (Reuters) - The euro slipped on Tuesday while bund futures rose to session highs and European stocks erased gains after a key German business sentiment for September fell short of expectations. The Munich-based Ifo think tank said its business climate index, based on a monthly survey of 7,000 firms, rose to 107.7, missing the forecast for a reading of 108.2. That compared with a revised reading of 107.6 in August. The euro slipped to $1.3494 after the survey was released from $1.3514 beforehand. The euro also pared gains against the yen, to trade at 133.705 yen. German Bund futures hit a session high of 139.07 after the data, up 29 ticks on the day. FTSEurofirst 300 share index erased earlier gains to turn negative after the data, trading down 0.1 percent on the day at 1,255.49 points.

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