020 7898 0500The euro gave up the gains it made against the US dollar following the cautious view from the FOMC minutes on Wednesday evening.
Thursday was fairly quiet for the Eurozone as both France and Germany were on bank holiday in observance of Ascension Day. As the bloc’s largest two trading nations, there was little in terms of economic data. However, data has been positive throughout the week which has helped support the single currency.
The Ifo Institute for Economic Research reported that business confidence and morale continue to grow as the survey reported its highest level since 1991.
The day ahead is expected to be fairly quiet although the G7 summit will likely dominate headlines.
