RPT-Euro jumps vs dollar after strong Ifo

Fri Jun 24, 2011 4:14am EDT

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LONDON Jun 24 (Reuters) - The euro jumped broadly on Friday after a strong-than-expected reading of German business sentiment added to the view the German economy is continuing to improve, even as weaker peripihery economies struggle. The euro rose around 30 pips to $1.4239, but still traded 0.2 percent lower on the day. It edged up around 20 pips against sterling to a session high of 89.25 pence , trimming earlier losses to trade flat on the day. (Reporting by London Forex Team)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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