FRANKFURT (AP) — The euro was slightly higher against the dollar Friday after Germany reported that growth in its economy, Europe’s biggest, accelerated in the third quarter.
The 16-nation euro bought $1.4873 in European morning trade, up from $1.4866 late Thursday in New York.
The British pound climbed to $1.6638 from $1.6570, while the dollar slipped to 90.28 Japanese yen from 90.32 yen.
The German economy booked quarter-on-quarter growth of 0.7 percent in the July-September period, official data showed — up from 0.4 percent in the second quarter, when it emerged from recession.
“The German third-quarter GDP figures, released earlier this morning have already sent a comforting message to the markets,” Calyon Credit Agricole analysts said in a research note.
Wider eurozone figures due later in the day should show an exit from recession and may “encourage some flows back into the euro,” they added.
