Forex: Higher than expected IFO Germany assessments boost the Euro

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IFO assessment figures for the month of March were announced for March in Germany. The announced rate of 115.8 was better than the expected 114.6 and the previous reading of 114.7 following the announcement at 09:00 GMT the Euro resurrected from the session lows it was trading against the dollar and rose around 20 pips to reach the 1.4165 levels. The euro also rose to 4.5 month high against sterling at 88.11 pence

The IFO Current Assessment shows results of a survey following the views and assessments of enterprises on the business situation and their short-term planning and is therefore considered as an indicator of current conditions and business expectations in Germany. A high reading is usually related with hawkish behavior of the Euro. The EURUSD pair is currently traded at 1.4174