Euro advances, bolstered by German data

London

THE euro climbed towards US$1.10 against the dollar on Wednesday and gained against most major currencies, helped by a robust survey of German business morale that added to signs that an economic recovery in the eurozone is strengthening.

But with the ECB's 1.1 trillion euro (S$1.7 trillion) asset purchase programme under way, short-dated eurozone bond yields were likely to be capped and keep gains in the euro limited, traders said.