020 7898 0500The euro pulled back slightly from its highs as markets rebalanced from the ongoing news flow we’ve seen. EUR/USD has pushed significantly higher this week, a move that is difficult to attribute to economic data, as the German ZEW number missed expectations.
Instead, the push is seen as being due to a weak US dollar following what has probably been Trump’s most difficult week in office to date. Yesterday, the single currency gave back some of its gains from the past couple of days, but still remains at elevated levels.
There is little in terms of economic data released today. Instead, markets will be interested to see where EUR/USD finishes the week after making large gains.
