This week so far has a beacon of light in an otherwise dark few months for the euro. Against both sterling and the dollar, the single currency rose sharply – hitting a monthly high against sterling. Economic releases from the Eurozone were varied, so it is hard to say what caused such strength. It’s possible that this was driven by poor data out of the UK, but one can only assume that someone knows something about a resolution to the Greek situation– despite the still mixed reports.
Today sees very little data out in Europe, so the strength of the euro will largely depend on the data from other nations and any potential revelations about Greece.