The euro was slightly weaker against the dollar yesterday, partly due to disappointing economic data from Europe.
German IFO data, which measures entrepreneurs’ sentiment about the current business situation, missed expectations. The figure rose to 96.8 in April, little-changed from the previous month’s 96.6 and below market expectations of 97.8. However, this was the highest reading since June 2019.
The data shows that the third wave of infections in Europe is hampering business optimism for the next 6 months.
