Currency Note Euro

Euro reached two-week high against sterling

By Ricky Bean June 7th, 2016

Yesterday we saw the euro gain further strength, reaching a two-week high against sterling. This was due to EU referendum polls in the UK taking centre stage, with the latest polls indicating a jump in ‘Brexit’ support, which caused sterling weakness across the board. This trend was reversed overnight as the likelihood of a June US interest rate hike receded.

Today we see a steady flow of influential data such as German and Spanish industrial production figures, French trade balance and Eurozone growth data. We expect the latter to have the biggest impact on the health of the euro currency.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.