EUR: Euro nears a 3-month high against dollar

The euro is nearing a three-month high against the dollar this morning and is gaining some ground against the pound.

The IFO Business Climate indicator for Germany was released yesterday, which measures sentiment about the current business situation and expectations for the next 6 months. The figure dropped to 90.7 in November from 92.5 in the previous month, still above market expectations of 90.1.

This should that companies became more pessimistic following tougher restriction measures to curb the spread of the COVID-19 pandemic.

Today, ECB officials and ECB President, Christine Lagarde, will make speeches.

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