The euro was approaching an 11-week high against sterling this morning (August 26th) as investors awaited business sentiment data from Germany.According to a Bloomberg poll, the Ifo institute is likely to announce that business sentiment in Germany rose for a fifth consecutive month in July, indicating that the eurozone is on the way to recovery.Earlier this month, Germany became the first country in the European Economic Area to announce that it had pulled out recession, with France posting similar growth figures soon after.Ralph Soveen, head of economic research at Commerzbank in Frankfurt, said that the German economy will strengthen further in the latter half of the year as exports pick up."However, one has to bear in mind that even with healthy growth in the third and fourth quarters, we won’t get back to the level of output seen at the beginning of 2008," he clarified.