Euro weakens against dollar ahead of Germany's business climate index release

The euro weakened against the dollar on Friday morning ahead of the release of Germany’s business climate index by the IFO research institute.

Report informs, citing the trading data, that the euro-to-dollar exchange rate fell to $1.1742 from $1.1749 per euro.

The dollar-to-yen rate rose to 147.11 yen as of 08:05 Moscow time, compared to the previous close of 147.01 yen per dollar. The US Dollar Index (against a basket of six major currencies) was up a symbolic 0.07%, reaching 97.56 points.

On Friday, the IFO institute will publish its data on Germany’s business climate index. Forecasts suggest the indicator rose in July to 89 points, up from 88.4 in June.

Markets are also analyzing recent decisions by the European Central Bank regarding its monetary policy. On Thursday, the regulator decided to keep the key interest rate at 2.15% after seven consecutive cuts.