The Euro weakened against the Greenback despite the data showing an unexpected uptick in the German ZEW economic sentiment. The EUR/USD exchange rate dropped four base points to 1.2339.
In February, Germany’s investors continued to show strong confidence in the current economic situation even despite the ZEW indicator recording a decrease of 2.6 points from the prior month. Commenting on the matter, ZEW President Professor Achim Wambach said that the German economy continued to perform on an optimistic note in early 2018, adding positive results come from solid global economic growth and private consumption and that Europe’s largest economy is expected to continue its growth trajectory in the next six months.
