Single currency is up against both sterling and dollar

The single currency finished the day up against the pound, which was mainly due to sterling weakening. However, it also gained against the dollar, despite the potential default of Greece and the possibility of Le Pen winning in the France elections making headlines.

Spanish Consumer Price Inflation data fell below forecast levels. This, however, was low-impact data.

Markets will now focus on new inflation data, which will show whether the recent pick-up in inflation is actually a trend. This will help inform the European Central Bank’s future monetary policy.