Currency Note Euro

Euro on top thanks to significant pressure in the US and UK

By Ricky Bean February 5th, 2016

The euro has had a very impressive week this week, making large gains against both the US dollar and sterling; this was generally down to serious pressure on the single currency’s rivals, rather than significant strength in the Eurozone.

Against the US dollar, the euro reached fresh five month highs today thanks to poor data from America, whilst the single currency was able to push back to yearly highs against sterling when it was confirmed that all Monetary Policy Committee (MPC) members in the UK voted against a rate hike.

Very early this morning manufacturing orders were out from Germany, this was expected to fall sharply back into negative territory from 1.5% down to -0.5%.