April 24, 2013 / 8:11 AM / in 5 years

Euro falls, Bunds edge up briefly after German Ifo

LONDON, April 24 (Reuters) - The euro fell to its lowest in nearly three weeks against the dollar on Wednesday while Bunds edged up briefly after the German Ifo survey fell well short of expectations and bolstered expectations of an interest rate cut.

The euro fell to $1.2954 after the survey was released from $1.2991 beforehand, and its lowest level since early April.

German Bund futures rose briefly after the data to hit session highs of 146.25, up 16 ticks on the day. They later retreated to 146.08.

Europe’s FTSEurofirst 300 extended gains to a session high, up 0.4 percent at 1,188.56 points.

The European Central Bank meets next week and expectations are growing that a slew of weak economic data and subdued inflation will drive it to cut rates.

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