The euro continued to fall against the US dollar on Monday as it moved to a one-month trough and remained under pressure as expectations for an upcoming US interest rate hike continued to hit the European currency hard. The single currency has fallen 13% against the dollar in this year alone, and continues to lack support after the European Central Bank (ECB) announced its €1 trillion quantitative easing program back in January. The ECB began purchasing assets in March, therefore moving the euro to new lows.
Unfortunately the Eurozone’s troubles continue, as uncertainty still lies over Greece’s bailout. Talks have begun between Athens and its lenders on potential economic reforms, which were resumed on Monday ahead of the meeting of euro area Finance Ministers on the 24th April 2015. Today we have Februarys Industrial Production data for the Eurozone which at best is expected to be steady which means that the euro is unlikely to see any upswing from this data.