020 7898 0500There were no major releases from the eurozone yesterday and it traded sideways against the dollar throughout the day. Against sterling, it initially made some gains as concerns over the Brexit withdrawal bill weighed heavily on sterling. However, the government ended up winning the meaningful vote amendment and sterling quickly regained the ground it had lost throughout the day and ended up strengthening against the single currency.
Today will be focused on the BoE’s interest rate decision, but we will see the eurozone’s flash consumer confidence reading for June. It is expected to fall to -0.1 from 0.2 the month before, but any currency movements will likely be influenced from events elsewhere, especially if we see a surprise with the rate decision, of fears over a trade war ramp up once more.
