The euro traded relatively flat during the start of the week, despite some disappointing investor confidence data from Germany and with only minor data releases otherwise. Traders also seemed cautious to act too strongly on any rhetoric regarding the Ukraine crisis and possible sanctions from the west, resulting in minimal impact on currency movements.
Mid-week invited more movement as we saw the budget speech in the UK and a statement from the US Federal Open Market Committee (FOMC). The markets viewed both positively enough to strengthen against euro late on Wednesday, with the euro getting knocked down from its highs against the US dollar.
Today there are only minor releases to be expected out of the Eurozone in the form of consumer confidence data and current account statistics.
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