Flash: Euro find support as German economy shows improvement - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that the euro found support at 1.28 but faces upside resistance at 1.30.

They feel that expectations have increased for the German economy to show a marked improvement in 2Q13 after a disappointing performance in 1Q13. They see that sentiment was boosted by a better-than-expected Ifo and another multi-year high in the GfK consumer sentiment survey. They add, “Neither did not hurt that Eurozone posted another record current account surplus. With a balanced budget and a high current account surplus, Germany has the most room to lead recovery in the Eurozone.”