Euro up against dollar on German economic strength





The 17-nation euro is higher against the dollar, helped by a survey showing business confidence in Germany, Europe's largest economy, continued to rise in January.

The euro bought $1.3540 in morning European trading on Friday, up from $1.3469 the night before in New York.

The British pound is unchanged at $1.5910 while the dollar is down to 82.81 Japanese yen from 83.04 yen the night before in New York.

The euro gained traction after the closely-watched Ifo index showed that confidence among German businesses rose again in January.

The German economy enjoyed strong growth last year due to a rebound in international trade, which boosted the country's high-value exports. Analysts expect Germany to remain Europe's principal engine of growth in 2011 as well.