Currency Note Euro

Excellent week for the euro in a poorly-performing market

By Ricky Bean February 12th, 2016

It has been an excellent week for the euro and the theme only continued on Thursday as the single currency managed to hit fresh recent highs against the US dollar and sterling.

The euro’s strength against the US currency was predominantly down to US dollar weakness, with Federal Reserve Chair Janet Yellen speaking in a cautious tone last night. As the euro and US dollar make up the most highly traded currency pair, the single currency benefitted from this throughout the week. With no major news or data out in the week, it has been a surprisingly impressive one for the Euro, particularly against sterling.

This morning growth data from Germany is released and is expected to remain at 0.3%.