The euro falls after weaker-than-expected German Ifo data, with EUR/JPY hitting a new near 3-year low around 123.23, down 1% on the day. EUR/USD hits a near 3-week low of $1.0998, breaking below $1.1000, although traders cite bids at and just below that level. Ifo business sentiment comes in at 105.7, against forecasts in a WSJ poll of 106.7, business expectations are 98.8, against forecasts for 101.6. Current conditions are 112.9, better than the 112 forecast. (

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This article originally appeared at TradeQQ.