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Germany’s influential IFO institute, in its latest report, offers its view on the country’s exports sector.

Key headlines

“Mood among exporters has improved somewhat after ‘catastrophic’ April.”

“Export expectations rose in all key sectors.”

“But almost all sectors expect further decline in exports.”

Market reaction

The bid tone around the euro remains intact on the above statement, with EUR/USD flirting with daily tops near 1.0920, up 0.18% so far.