The euro edged higher against the dollar on Monday after a bigger-than-expected drop in German business sentiment raised hopes the euro zone's largest economy will do more to revive the bloc's growth. Sentiment toward the euro remained uncertain as markets awaited a series of key events next month, including the European Central Bank's policy meeting on September 6, followed by the German Constitutional Court's ruling on the euro zone's permanent bailout fund on September 12.
The euro hit a session high of $1.2535 on Reuters data after the Ifo survey was released, and was last up 0.1 percent at $1.2518. It stayed well below a peak of $1.2589 set last Thursday, its highest since July 4. Traders cited strong offers above $1.2580 and option barriers at $1.2600. Support lies around $1.2500. Volume was thin with London shut for a holiday. Against the yen, the euro rose slightly at 98.46 yen. The dollar was flat at 78.65 yen. The Aussie dollar was last down 0.2 percent at $1.0385.
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