Investing.com - German economic sentiment deteriorated more than expected in February, hitting a four-month low as concerns over Britain's exit from the European Union combined with rising political uncertainty weighed.
The ZEW Centre for Economic Research said that its index of German economic sentiment declined by 6.2 points to 10.4 this month in a report on Tuesday.
Analysts had expected the index to fall by 1.6 points to 15.0 in February from 16.6 in the preceding month.
The Current Conditions Index dropped to 76.4 this month from 77.3 in January, worse than expectations for a reading of 77.2.
Meanwhile, the index of euro zone economic sentiment dropped to 17.1 in February from 23.2 a month earlier, missing forecasts for a reading of 22.3.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.0611 from around 1.0617 ahead of the release of the data, while EUR/GBP was at 0.8508 from 0.8514 earlier.
Meanwhile, European stock markets were mixed in subdued trade. Germany's DAX inched up 0.1%, the EURO STOXX 50 fell 0.1%, France’s CAC 40 tacked on 0.1%, while London’s FTSE 100 declined 0.1%.