Euro pares gains after EU Commission forecasts

LONDON Fri Feb 22, 2013 5:09am EST

LONDON Feb 22 (Reuters) - The euro pared gains against the dollar on Friday after the European Commission forecast the euro zone economy would shrink again in 2013.

The euro dropped to $1.3200, from $1.3220 before the EU Commission data. It retreated from an earlier session high of $1.3246 hit after better-than-expected German Ifo data.