Euro Hikes against Dollar amid German Ifo Business Confidence Rise

The euro rose against the dollar while German Bund futures pared gains on Monday as a survey showed German business sentiment was slightly better than forecast in March.

The Ifo business climate index rose to 109.8 in March from an upwardly revised 109.7 in February, above forecasts for a reading of 109.6.

The euro rose to around $1.3262 against the dollar from $1.3237 before the data, though it stayed shy of an earlier session high of $1.3285.

German Bund futures pared gains after the Ifo release, last trading virtually flat on the day at 137.40. The data have been reported by Reuters.