Better than median forecast of 105.7.
EUR/USD has spiked higher, presently at 1.2720. Earlier had been receiving reports of sell orders at 1.2720/30.
Ifo’s Abberger:
- Growth rates in 2010 first half can not be sustained but no cooling in second half
- Germany will be affected in 2011 if US, Asia slip into recession
- Germany will have slight growth in consumption for full year 2010
- Possible risks for German growth are mainly from abroad
- No reason for any changes in interest rate policies at moment