EUR/JPY: German Ifo Business Climate

The Friday report showed that German business sentiment eased slightly in August after reaching three highest levels in a row, resulting in a modest increase in the EUR/JPY currency pair. The Euro gained 6 base points or 0.05% to the 129.27 mark and continued to grow steadily.  

The Munich-based Ifo Institute for Economic Research reported that its Business Climate Index edged lower to 115.9 in the reported month, down from the 116.0 registered previously. The German strong economic expansion remained in line with firm GDP growth in the Euro Area. However, the country's businesses were less optimistic about the current situation, suggesting that the economic growth in the largest EU country could reach its peak in the near future.