Euro Rises for 4th Day on German Business Confidence Data

The euro rose to its eight-week high level against the US dollar today as the German Business Climate data surpassed forecasts, showing confidence in the strength of the Eurozone’s leading economy.

The euro also rose for the fourth consecutive day against the British pound and for the second one against the Japanese yen. German Ifo Institute released its Business Climate index data for January, showing a growth from 109.9 to 110.3, while the major economists forecasted that the index will remain unchanged this month.

EUR/USD rose from 1.3463 to 1.3537 as of 12:24 GMT today, showing a daily high at 1.3564 — the highest level since November 23. EUR/GBP rose from 0.8467 to 0.8490, while EUR/JPY advanced from 111.72 to 111.94

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