Currency Note Euro

Euro close to an eight year low against sterling

By Ricky Bean November 20th, 2015

Yesterday, the euro received its biggest news all week as the minutes of the European Central Bank (ECB) October meeting confirmed that there was a significant risk that it will once again miss its inflation target. After struggling against both sterling and the US dollar throughout the week, it then weakened towards its lowest point against sterling for around eight years.

Friday may well show improvement for the Eurozone, however. Earlier this morning, producer price index from Germany was released, and forecast to tick up slightly from -0.4% up to -0.2%, and this afternoon we expect consumer confidence data; this is also forecast to improve from -7.7 to -7.5.