Currency Note Euro

Euro gains ground despite worries

By Smart Currency December 11th, 2013

The euro continued its remarkable run of strength yesterday as it reached a five-week high against the US dollar during the afternoon and appreciated moderately against sterling. The day’s manufacturing data sets were mixed with French figures showing contraction in the sector and Italian figures coming out showing slightly better growth than expected. The Eco-fin meetings may have also impacted positively upon the performance of the single currency as European finance ministers looked to be working towards a single resolution for failing European banks. Today is a quieter day on the whole for data releases with the only releases of note are German inflation data and French unemployment figures. Call your trader now to manage your exposure ahead of Mario Draghi’s next address on Thursday.