The euro rose against the US dollar for the second day but edged down versus the Great Britain pound today after the positive economic news from Germany.
The GfK German Consumer climate rose from 10.0 to 10.2 in August, in line with analysts’ expectations. The report commented on the result:
Consumer sentiment in Germany developed positively on the whole in August, with consumers appearing to digest the shocking Brexit news very well.
It added further:
The Brits’ decision to leave the EU only seems to have caused temporary uncertainty among German consumers.
EUR/USD went up from 1.1285 to 1.1293 as of 8:55 GMT today. At the same time, EUR/GBP fell from 0.8553 to 0.8537.
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