Investing.com - German business confidence ticked lower this month, with firms reporting that conditions have become tougher, according to a report released on Monday.
German research institute Ifo said its business climate index ticked down to 106.6 this month from a reading of 106.7 in March.
Economists had expected the index to rise to 107.0.
The current assessment index declined to 113.2 from 113.8 in March, compared to forecast of 113.8.
The business expectations index, which measures attitudes toward business prospects over the next six months, rose to 100.4 from 100.0 last month, falling slightly short of forecasts of 100.8.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
EUR/USD was trading at 1.1257 from around 1.1255 ahead of the release of the data, while EUR/GBP was at 0.7806 from 0.7807 earlier.