28 July 2003, 12:08   LONDON - The euro slid on Monday after a key German survey showed

business sentiment in the euro zone's largest economy rose less than expected in July. The Ifo index rose to 89.2 versus 88.8 in June, lower than the 89.7 forecast but recording its third straight month of gains, which Ifo says is necessary before the real economy is likely to follow suit. At 0805 GMT, the euro fell as far as $1.1469 versus around $1.1489 just before the data. The euro was about a quarter percent down on the day as the market buoyed the dollar after U.S. stocks posted strong gains on Friday and futures were pointing to another positive start later on Monday.

© 1999-2024 Forex EuroClub
All rights reserved