Dollar slips as German court ruling supports euro

NEW YORK — The dollar is slipping in morning trading after a German court ruling kept the country involved in the euro bloc’s rescue fund.

Germany is Europe’s largest economy and a key part of the bailout program.

The euro is rising to $1.4050 from $1.3991 late Tuesday. It had dropped more than 5 cents, about 3.5 percent, in the past two weeks, bottoming at a nearly two-month low of $1.3972 on Tuesday, as fears of a deepening debt crisis and slowing economy hurt European markets.

The dollar is also slightly lower at 0.8602 Swiss franc from 0.8615, despite Switzerland’s efforts to weaken its currency.

Elsewhere, the British pound rose to $1.5981 from $1.5936. The dollar fell to 77.33 Japanese yen from 77.67 yen.