Asian shares hit one-year highs on Friday and bond yields were on track to notch up a broad-based rise on the week, but European markets softened after a closely watched measure of German business confidence came in weaker than expected. The Ifo business climate index fell in May to its lowest this year, following data that showed growth in the first quarter in Germany was its strongest in three years but gave a dimmer outlook for the coming quarters. This raised expectations that the European Central Bank will ease policy next month, pushing the euro down to a three-month low against the dollar and breaking long-term technical support that had held firm for almost nine months. The euro was down a fifth of 1 percent on the day at $1.3630 EUR=, the lowest in three months and crucially below technical support at the 200-day moving average of $1.3636.
via Business News - Yahoo Finance http://ift.tt/1oZxGff
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