German IFO Shows Great Progress

The German IFO is at its highest level in more than three years, according to a report released today. Business confidence in Germany is improving, and this is coming as something of a surprise, after indications were released that indicate that the euro zone recovery might be slowing.

However, in Germany, it appears that things are moving right a long. It is true, though, that Germany can’t pull the entire euro zone along on its own. However, with Germany in the lead, there is hope for the rest of the euro zone.

Euro is up in forex trading against the U.S. dollar. The U.S. dollar is also receiving downward pressure as the G-20 meeting experiences tension over monetary and currency policy.

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