German IFO remains unexpectedly steady

Tuesday, 24 May 2011 11:52

Anxiously anticipated German IFO Business climate news remained at a steady rate of 114.2, while expectations discussed the German IFO to come out at 113.9.  Shortly after the positive news release, EUR/USD jumped from 1.4060 to trade at 1.4093; its current point.  The European currency struggles to make a recovery after yesterday's heavy downfall below the line of 1.40, after the currency fell to 1.3969.