The euro just fell below $1.28, extending the currency’s ugly decline against the dollar. This comes as economic data continues to confirm deterioration in the euro area economy. Earlier today, we learned Germany’s IFO business climate index fell to 104.7 in September from 106.3 in August. This was worse than the 105.8 expected by economists. “Weak growth in Eurozone trading partners, tensions with Ukraine and, possibly, a slowdown in China continue to weigh on the main German business survey index,” Pantheon Macroeconomics’ Claus Vistesen said. The European Central Bank has been easing policy further as economic activity stagnates and prices …read more
Source: Business Insider
