Euro drops to 3-month low vs dollar after German Ifo

LONDON Fri May 23, 2014 4:09am EDT

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LONDON May 23 (Reuters) - The euro fell to a three-month low against the dollar on Friday after a soft German business sentiment survey added to expectations the European Central Bank would ease policy next month.

The euro fell past support at its 200-day moving average at $1.3637 to hit a three-month low of $1.36265 after the German Ifo survey was released. It was trading at $1.3645 beforehand.

The euro was also down 0.2 percent at 138.65 yen. (Reporting by Anirban Nag, editing by Nigel Stephenson)

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