Euro grows due to data from Germany, dollar falls after negotiations between the United States and China

The euro is showing growth after the publication of strong statistics from Germany, while the dollar, on the contrary, fell after a successful telephone conversation between the US and China.

According to the Ifo Institute, the German business climate index rose to 92.6 points in August from the revised 90.4 points a month earlier. As a result, the European currency rose to the level of 1.1840.

Today it also became known about the successful negotiations between Washington and Beijing. Both sides reaffirmed their commitment to the first phase of the Sino-US trade deal, despite China falling behind on its commitments to purchase US goods.

Investor sentiment and appetite for risky assets have also improved amid news of the possibility of rapid approval of a coronavirus vaccine being developed by AstraZeneca and the University of Oxford.