The Dollar has started the week on a soft footing, which drove EUR-USD to a new three-month high at 1.1395, despite the sub-forecast German Ifo data. EUR-JPY also saw a new 11-day peak, while the common currency has remained buoyant against other currencies. The German Ifo business survey produced a Q2 headline reading of 98.2, down from 99.4 in Q1, although at least part of the headline weakness was due to one-off distortions created by the relatively late timing of Easter this year and stock building ahead of the original Brexit deadline.
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