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FRANKFURT, Germany (AP) - The dollar sank to a near-record low against the euro on Wednesday as improved business confidence in Germany contrasted with lackluster economic reports from the U.S.
The euro climbed to a two-year high of $1.3657 in early afternoon European trading, flirting with its all-time high of $1.3667 set in December 2004 . The 13-nation currency bought $1.3626 late Tuesday in New York.
The euro's rise came after the release of Germany's closely watched Ifo business confidence index, which posted an unexpected increase in April — underlining growing optimism about Europe's biggest economy.
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