FX : Euro dips below 1.4750 on disappointing Ifo figures
FXstreet.com (Barcelona) - Euro-Dollar's slight recovery seen on early European session, has reversed somewhat after German Ifo Business Climate Index posted a shorter than expected improvement in September.
German Ifo Business Climate index rose to 91.3 in September from 90.2 in August, instead of the 92.00 expected by the markets, while the expectations Index edged up to 905.5 in September from 95.0 in August.
EUR/USD pickup from 1.4685 intra-day low was capped at 1.4765, as the Euro declined about 30 pips after Ifo data was released to reach 1.4735 low. At the moment, the Euro trades right at 1.4750.
