Currency Note Euro

Euro falls back to as markets appear to level out

By Smart Currency August 26th, 2015

Tuesday was a slightly more disappointing day for the euro after it strengthened so much across the board on Monday. A natural sell-off of euros took place in the morning, as investors felt the single currency had been over bought during Monday’s drama.

Data figures released yesterday were positive, with the German IFO business survey data hitting 102.2 – compared to the 102 predicted. German Gross Domestic Product (GDP) figures were released as expected, before the sell-off began at 9am.

There is little data out of Europe today to affect the euro’s relative strength, however, with markets nervous about the situation in China, we could see significant swings through the course of the day.