Euro briefly pares gains after German ZEW survey

LONDON, Dec 14 (BestGrowthStock) – The euro briefly pared gains
against the dollar on Tuesday after a German survey showed
economic sentiment beating forecasts but the current conditions
component coming in below expectations.

The ZEW said economic sentiment rose to 4.3 points in
December, against forecasts for 4.0. The current conditions
index rose to 82.6 from 81.5 in November, but was below
forecasts for 84.0. [ID:nDEP003410]

The ZEW also said budget consolidation across many countries
in Europe and the prospect of a more contractionary monetary
policy in China were risk factors for German exports.

The euro slipped roughly 15 pips against the dollar to
around $1.3417 (EUR=: ), though it remained up on the day. By 1008
GMT it had recovered to $1.3434, below an earlier three-week
high of $1.3476.

(Reporting by London Markets team)

Euro briefly pares gains after German ZEW survey