EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints The German IFO Business Climate Index came in at 104.7 in September versus 106.3 in August. It is the lowest reading since April 2013 and came short of market expectations of 105.8. Moreover, German IFO Expectations Index showed a print of 99.3 from 101.7 in the previous month. This is the lowest reading since December 2012 and exceedingly missed market forecasts calling for 101.2. Meanwhile, slight improvement in August German IFO Current Assessment Index as it crossed the wires at 110.5 from the consensus of 110.2.
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