FOREX-Euro edges up vs dollar after firmer German Ifo

* Euro up 0.1 pct at $1.4984 EUR=

* German bank concerns offset by firmer Ifo

* Dollar, yen gain as investors pare back risk exposure

(Updates prices, changes byline)

By Jessica Mortimer

LONDON, Nov 24 (Reuters) - The euro was a touch higher against the dollar on Tuesday, reversing earlier losses as a firmer-than-expected German sentiment survey offset concerns about the country's banking sector.

Trading volumes were thin, with major currency pairs confined to their recent ranges ahead of the U.S. Thanksgiving holiday on Thursday.

The euro was helped by a bigger-than-expected rise in the German Ifo November business climate index to 93.9, a level not seen since the collapse of Lehman Brothers last year, lifting optimism that Germany's recovery can gain momentum. [ID:nGEE5AN0TL]