Currency Note Euro

Euro strength on UK uncertainty

By Ricky Bean March 24th, 2016

The euro had a quiet day on Wednesday, with the single currency only seeing any real movement against sterling – however, this was down to UK currency weakness rather than any specific data out of the Eurozone. The euro managed to push to fresh 13-month highs, though, as sterling continued its poor form due to the uncertainty surrounding the results of the upcoming EU referendum in June. The competition between vote to remain and the vote to leave the union remains very tight, according to recent polls.

Very early this morning, business sentiment data was released from France. This is not seen as a significant indicator as is the same data from Germany, but it is still an important figure. With the release expected to hold steady at 103, any deviation from this could create some movement early on for the euro.

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