LONDON, March 26: The euro rose against the dollar Wednesday on the back of a strong German business confidence survey and comments from the European Central Bank which suggested no early cut in eurozone interest rates.

Dealers said that another set of weak US economic data added to the pressure on the US currency, allowing the euro to move back to within sight of the $1.58 level with ease.

In late European trade Wednesday, the euro was at $1.5775, up from $1.5647 in late New York deals Tuesday.

The dollar was at 99.35 yen, down from 99.98 yen.

News that Germany’s Ifo institute business climate index climbed to 104.8 points in March from February’s 104.1.—AFP