LONDON, Dec 19 (Reuters) - The euro fell to session lows
versus the dollar on Wednesday and German stocks extended losses
after the Ifo German business climate index came in below
expectations.
The Ifo German business climate index came in at 103.0
versus consensus forecast of 103.8 in December.
By 0904 GMT the euro had fallen as low as $1.4374, down
around 10 ticks from before the data.
Frankfurt's DAX index <.GDAXI> briefly extended losses and
was down 0.3 percent lower to 7,829.5 after the data.
"The headline number is certinaly softer than expected, so
any gut instinct will be to focus on that... But even though
this is a decline, it's still way above its historical average
-- so there's reason to be cautious but there's no reason to
panic just yet," said Stuart Bennett, senior euro zone economist
at Calyon.
((Reporting by Toni Vorobyova and Simon Falush))