The euro moved under 1.06 against its major peer, the US dollar, on Friday, as the American currency continued to pile on the pressure on the single currency. This was the lowest point we have seen in three weeks for the most widely traded currency pair in the world.
For the most part, euro investors are still focusing on whether Greece will be able to reschedule their debt with their lenders or have to default. A key date is this coming Friday.
During the week we have a raft of data releases; industrial production tomorrow , trade balance figures on Wednesday and inflation data on Friday. But the key event is most probably the European Central Bank meeting on Wednesday. No change in policy over interest rates or their programme of quantitative easing is expected but the comments from their President post the meeting will be very closely scrutinized given how much is happening in the Eurozone.