The euro held steady on Monday after last week’s euro strength, when poor US data put the pressure on the demand for the US Dollar currency. The underlying problem for the single currency is that it remained in a vulnerable position after the European finance ministers said that Greece must present a full economic reform plan by early May in order to access any further funding. This seems more likely following the side lining of the Greek Finance Minister from the negotiations following an acrimonious meeting between the Eurozone Finance Ministers last week. The end game must be soon as Greece has very little money left.
Today should be a more exciting day as we have consumer confidence data released early in the morning – this has been forecast to improve.