Wednesday, September 24, 2014

EUR/USD Bearish Following a Weaker Than Expected German September IFO Report

Safe haven currency US dollar is softer versus the yen and Aussie dollar and steady against the euro and most of the other main currencies.

EUR-USD dipped following a weaker than expected German September IFO report, which slumped to 104.7 from 106.3, but follow-through euro selling was limited with the market having factored in downside risk following weak ZEW and PMI surveys for the same month.

EUR-USD was trading just under 1.2850 in early PM trade in Europe

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