FXstreet.com (Barcelona) - German IFO business climate index has increased somewhat above expectations in April, pointing out to a softening economic slowdown. The Euro has risen further and the Dollar has bounced up against the Yen.
IFO Business Climate Index has risen to 83.7 in April from 82.1 in March, somewhat above the experts expectations off a slight increase to 83.3. Economic Expectations Index has risen to 83.9 in April from 82.1 in March.
EUR/USD rebound at 1.3000 level yesterday has broken resistance level at 1.3200 after Ifo data was released, to reach a new two-weeks high at 1.3235 level.
USD/JPY has bounced up at 96.65, the lowest level in almost one month, to reach 97.30 momentrs after Ifo figures were known.
For more information, read our latest forex news.