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EUR/JPY continues to recover after IFO data

The EUR/JPY pair extended the recovery off lows to 130.60 after the German IFO indices in November printed higher than estimates.
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German IFO bettered estimates in November - ING

Carsten Brzeski, Research Analyst at ING, notes that the German businesses showed an interesting reaction to the recent series of uncertainties and turmoil as the country’s most prominent leading indicator, the just released Ifo index, increased to 109.0 in November, from 108.2 in October, offsetting last month’s drop.
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