020 7898 0500It was another quiet day for the eurozone, as news from the UK and US dominated the headlines. With the news that rates in the UK would be kept on hold, as well as the continued suspicion that the European Central Bank will extend its quantitative easing programme beyond September 2018, it is the dollar that is the most consistent performer of late.
However, as we all already know, this is not something that will panic ECB President Mario Draghi; he favours a weak euro as it helps boost eurozone export strength, which has suffered as a result of euro strength (particularly against the dollar). It will be fascinating to see what Draghi says later today when he is scheduled to give a speech. Economic data of late from the eurozone hasn’t been too disappointing, and does still show a robustness, but it does beg the question of whether the economic projects at the start of the year were a little too optimistic.
