The euro rose today against the Swiss franc after the report showed the unexpected growth of the German business confidence. The euro fluctuated versus the US dollar, but had tendency to rise gradually.
The Ifo Business Climate indicator for industry and trade in Germany advanced from 106.8 to 107.6 in October. The analysts’ estimates promised a value of 106.5. Germany’s government more than doubled its growth forecast for this year to 3.4 percent.
EUR/USD traded at 1.3924 as of 12:46 GMT today after opening at 1.3920. EUR/CHF rose from 1.3470 to 1.3542.
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