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BERLIN (AP) - The U.S. dollar rose against the euro and other major currencies Wednesday as the U.S. Congressional Budget Office reported Hurricane Katrina's impact would damage the country's economy but not be "overwhelming."
The gains also came as a German think-tank lowered its 2006 growth estimate for Germany, Europe's largest economy, to 1.1 percent from 1.3 percent on concerns over high oil prices.
The 12-nation euro bought $1.2437 in early European trading, down from $1.2453 late Tuesday in New York. The British pound was at $1.8401, down from $1.8421 late Tuesday. The dollar rose to 109.95 Japanese yen from 109.65 yen.
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