Investing.com - Morale among German investors deteriorated slightly in June after hitting an almost two year high in May, according to survey data released on Tuesday.
The ZEW research institute said its monthly survey showed its economic sentiment index fell to 18.6 from 20.6 points in the previous month. Economists had forecast a reading of 21.5.
A separate gauge measuring investors' assessment of the economy's current conditions rose to 88.0 points from 83.9 in May, compared to forecasts for a reading of 85.0. It was the highest reading since July 2011.
"The prospects for the German economy remain favourable. This is not least due to the positive GDP growth in the European Union in the first quarter of 2017. 70.8 per cent of the financial market experts expect the current situation to remain as favourable as it is at the moment, and 23.9 per cent even expect it to improve in the coming six months," ZEW President Professor Achim Wambach said.
EUR/USD was at 1.1212 from around 1.1214 ahead of the release of the data, while EUR/GBP was at 0.8830 from 0.8829 earlier.