The 16-nation euro rose against the U.S. dollar Wednesday despite a drop in consumer confidence in Germany, Europe"s largest economy, AP reported. The euro bought $1.5020 in morning European trading, up from $1.4975 late in New York on Tuesday. The British pound rose to $1.6710 from $1.6593 late in New York, while the dollar dropped to purchase 88.25 Japanese yen from 88.56 the night before. The euro rose even after Germany"s GfK market research group reported its forward-looking consumer confidence index fell for the second straight month. The report did say, however, that stable prices have meant that consumers" buying remained at a good level.
