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June 23, 2008 - Forex Economic News
Forex - German business confidence dips in June.
The European euro lost ground today against the U.S. dollar in forex trading as a German Business Climate Survey showed worse than expected results. The Ifo Institute business climate index decreased in June to a score of 101.3 after a score of 103.5 in May. Economic forecasts had expected the survey index to decrease to 102.5 for June. The Ifo release also registered declines for the month in the current assessment which fell from 110.1 to 108.3 and in future expectations which fell from 97.3 to 94.7. The 15 nation European currency gained ground after the news release and is trading higher today in the forex market. The euro has decreased its worth against the dollar today to 1.5521 dollars per euro down from a high today of 1.5633.
Tags: euro, usd, germany, ifo business confidence, business sentiment
