The euro had a good day on the whole, as it made ground against both sterling and the US dollar. The single currency hit its highest point since the beginning of May against its biggest trading partner, the US dollar. The movement seen on Wednesday was down to weakness from the US dollar and sterling as uncertainty continued in US and UK markets, which the euro benefitted from.
Trade export figures from Germany are released today and expected to fall sharply from 1.94% down to -0.6%, but this is not considered as the most significant, “tier 1” data, so any euro market movements in response are likely to be limited.
The euro is doing well in the current economic climate. If you are buying or selling euros, talk to your trader about the appropriate strategy to make the most of the Eurozone currency’s positive performance.