The dollar gained versus the euro on Wednesday on lower economic indicators in Germany and comments by St. Louis Federal Reserve President William Poole that it is too soon to tell if housing woes will trigger an economic recession.

Earlier in the day, Goldman Sachs said in a note to clients it expected to see a recession this year.

The dollar rose to $1.4640 per euro at 2:23 p.m. in New York from $1.4707 yesterday. The dollar also rose to 109.40 from 108.90.

In his comments Pool said he expected faster economic growth as the year wears on, adding that the dollar would not go way south.

Meanwhile, retail sales in Germany fell 1.3 percent in November, more than 1 percent predictions by analyst polled by Dow Jones Newswires. Production in the country was down 0.9 percent in the same month. Exports slipped 0.5 percent.