Germany's deteriorating economic outlook sends the euro lower

New data from ZEW finds the picture is improving in the Eurozone this July. Economic sentiment has risen from 30.6 to 32.8, while economists had expected a rise to just 31.8.

In Germany, economic sentiment was weaker, falling from 38.5 to 36.3, despite a forecasted rise to 39.6. But the current situation was judged to have improved, rising from 8.6 to 10.6, beating expectations of a rise to 9.0.