May 24, 2013 / 8:16 AM / 7 years ago

RPT-Euro rises, Bunds cut gains on above-forecast German Ifo

LONDON, May - The euro rose while German Bund futures cut gains on Friday after a bigger-than-expected rise in a German business climate survey suggested the outlook for Europe’s largest economy may be improving.

The Ifo business climate index rose to 105.7 in May from 104.4 in April and well above forecasts for only a slight rise to 104.5.

The euro rose to hit a session high of $1.2959, up from around $1.2926 just before the data.

German Bund futures last traded 2 ticks higher on the day at 144.41, compared with 144.65 before the release.

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