The euro pares losses against the dollar but only briefly after the Ifo institute's gauge of German business morale unexpectedly improved in February. The business sentiment index rose to 96.1 points from 96.0 last month, whereas economists polled by the WSJ expected a figure of 95.3. The assessment of the current situation fell to 98.9 from 99.2 while expectations increased to 93.4 from 92.9 against forecasts of 99.1 and 92.1, respectively. "The German economy seems unaffected by developments surrounding the coronavirus," Ifo President Clemens Fuest says. The survey results suggest economic growth of 0.2% for the first quarter, he says. EUR/USD falls 0.2% on the day to 1.0822, having edged up to 1.0843 shortly after the data from 1.0827
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