020 7898 0500A lull in notable Eurozone data has meant that the currency has taken its direction from the events around it. GBP has had pressure heaped on it and the Euro has benefitted from this move while the strength of the USD over the last week looked like it has eased, which again benefitted the Euro.
EURUSD being the most traded currency pair in the world, was taking direction from USD gains made from buoyant expectations around the US economy and an expectation of further rate hikes this year. However, as that eased, the euro found its feet again.
Key technical levels have been broken across many of the Euro’s pairings, and the market will continue to watch for further Brexit rhetoric to form its next opinion. After all, Brexit will have arguably just as big an effect on the Eurozone as it will the UK.
