The euro had a quiet day yesterday in contrast to its major peers although it showed significant gains against the US dollar following the surprise announcement from the Federal Reserve not to start reducing their programme of quantitative easing. Little by the way of influential data was seen to emanate from the Eurozone, so movements in euro pairings were largely dictated by events elsewhere. The single currency had traded within a narrow range against the US dollar during the day, whilst sterling strengthened against the euro to reach its highest point since mid-January. The fortunes of the seventeen-nation currency are likely to be dictated by events outside of the Eurozone for the rest of the week as we expect a heavy concentration of important influences from elsewhere, but very little from the Eurozone itself. However we should not discount the German election this weekend as it could be a significant factor on euro movements in the short to medium term. Call in now to see how the euro reacts to these influences.