The euro had a fairly uneventful week until Wednesday, with figures showing a greater than anticipated fall in industrial production for the Eurozone in December. The 0.7% decline in output, combined with reports from a board member of the European Central Bank (ECB) that the ECB are seriously considering negative interest rates, triggered a significant fall against the pound, the latter being boosted by positive growth figures on Wednesday.
Yesterday saw a slight rallying for the euro against sterling and a strengthening against the US dollar but with German and Eurozone growth figures due for release today we could see further significant movement for the Eurozone currency before the week ends.
Wondering whether to buy or sell euros? Contact your trader now for live rates, updates and guidance.