Euro jumps to 8½-month high against dollar

Associated Press

NEW YORK (AP) -- The euro hit a nearly nine-month high against the dollar as German business confidence rose more than expected.

Germany's Ifo institute says that its main index rose to 102.4 in December from 101.4 the month before. Economists expected the index to rise to 102.

The euro jumped to $1.3308, its highest point against the dollar since April 3. The euro was worth $1.3220 late Tuesday.

In other trading, the British pound rose to $1.6272 from $1.6248.

The dollar rose to 84.35 Japanese yen from 84.20 Japanese yen.

The dollar fell to 0.9100 Swiss franc from 0.9136 Swiss franc.