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Euro jumps against dollar on stronger-than-expected German business confidence survey

The euro is rising sharply against the dollar after a closely watched survey on German business confidence rose unexpectedly.

Germany's Ifo institute says its key business climate figure rose to 101.4 points in November from 100 in October. Economists expected a drop to 99.5.

Currency trading is light on Friday as many traders take a long weekend after Thanksgiving Day. The stock market will close early Friday, at 1 p.m. EST.

The euro rose to $1.2980 in afternoon trading from $1.2883. The British pound rose to $1.6042 from $1.5937.

The dollar fell to 82.32 Japanese yen from 82.43 yen, to 0.9273 Swiss franc from 0.9351 Swiss franc and to 99.17 Canadian cents from 99.75 Canadian cents.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.23% up 4.19%  
15 Y Fixed Graph 3.26% dw 3.27%  
30 Y Fixed Jumbo Graph 4.62% dw 4.64%  
5/1 ARM Graph 3.70% up 3.38%  
5/1 Jumbo ARM Graph 4.07% up 4.01%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.29% -- 4.29%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 5.09% up 5.08%  
$50K Loan Graph 4.52% -- 4.52%  
$75K Loan Graph 4.52% -- 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% dw 3.47%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 2.99% up 2.98%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.69% up 0.68%  
5 yr Graph 1.39% -- 1.39%