The euro struggled yesterday, weakening against almost all of its major trading partners, as rumours spread through the market that the European Central Bank (ECB) may consider a negative deposit rate if further stimulus is required. However this has not been confirmed and the head of the German central bank stated that it would not be a good idea to start loosen monetary policy further so soon after the ECB cut interest rates. The ECB vice president spoke in a similar tone mentioning that whilst a further round of monetary easing has been discussed, no “technical planning work” had taken place yet. We have high impact releases today for the euro, with French and German Manufacturing Purchasing Managers’ Index (PMI) released first thing and the German Central Bank President is speaking later this afternoon. With any unexpected data sure to cause volatility call now for the latest news form your trader.