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German IFO business climate rises to 10-month high

FXStreet (Mumbai) - The Ifo Business Climate Index for German trade and industry rose to a 10-month high of 108.6 in March, beating the estimate of 108.4, and up from February’s 107.9.

Companies were more satisfied with their current business situation. They also expressed far greater optimism about future business developments. The current assessment rose to 113.9 from 112.00. However, the expectations index declined to 103.5 from 103.9.

Despite a weak expectations index, production plans have reached their highest level since May 2014.

EUR/USD near 1.0900 on IFO

The European currency keeps pushing higher on Friday, now lifting EUR/USD to shouting distance of the key barrier at 1.0900...
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EUR/GBP muted below 0.72 on upbeat German data

The shared currency remained almost unchanged versus the British pound in the European morning; keeping EUR/GBP in the same range below 0.72 handle, as markets were unresponsive to the improved German business conditions reflected by above estimates German IFO business climate index.
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