HiFX: Foreign Exchange Specialists

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March 26, 2008

The latest German IFO survey saw an unexpected increase in March, rising from 110.3 in February to 111.5.  The increase in the figure provides evidence that European firms are still optimistic about exports despite the recent Euro strength.  Following the release the Euro rallied 0.5% against the U.S. dollar and continued to rally higher into the North American trading session.