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FRANKFURT, Germany (AP) - The dollar drifted higher against the euro on Tuesday when investor sentiment in Germany, Europe's biggest economy, unexpectedly stumbled after six consecutive months on the rise.
In mid-afternoon European trading, the euro bought $1.3400, down from $1.3411 in New York late Monday. The dollar moved upward after the closely watched index of German sentiment released by the ZEW, or Center for European Economic Research, fell unexpectedly to 20.3 points in June compared to 24 points in May and 16.5 points in April.
Analysts polled by Dow Jones Newswires had expected the reading to come in at 29 points. Some blamed the slip on concerns that the European Central Bank is likely to keep raising its main interest rate this year and on a recent slide in share prices on the German stock exchange.
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