Currency Note Euro

Disappointing turn for euro

By Ricky Bean February 11th, 2016

The euro had a slightly disappointing day in comparison to its recent performance this week as there was practically no data to support the single currency. This week the euro had benefitted from being the best of a bad bunch as both sterling and the US dollar saw worse-than-expected data releases.
Yesterday’s testimony from The Federal Reserve Chair heard Janet Yellen speak in a cautious tone, which in turn made investors move to back safe-haven currencies as the global economy continues to show signs of fragility.

Today could be yet another quiet day on the data front from the Eurozone, so investors are likely to look elsewhere for data or events that could affect euro strength, such as the continuation of Yellen’s testimony.