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Updated Wednesday, March 17, 2010 11:14 am TWN, AFP

Euro creeps higher after unexpectedly strong survey

LONDON/TOKYO -- The euro rose on Tuesday on unexpectedly strong German investor sentiment, but gains were capped by disappointment that a eurozone meeting had not resulted in a rescue for Greece.

In late morning deals here, the European single currency firmed to 1.3695 dollars, from 1.3671 late in New York on Monday.

Against the Japanese currency, the dollar edged up to 90.63 yen from 90.50 yen on Monday.

German investor confidence was

“German business activity has moved from the intensive care unit to the rehab. But it is still far from full recovery,” a statement quoted ZEW president Wolfgang Franz as saying.

Market players were meanwhile cautious ahead of the U.S. central bank's Federal Open Market Committee (FOMC) policy-setting meeting, which concludes Wednesday.

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