Currency Note Euro

Mixed bag for the euro

By Ricky Bean August 27th, 2015

The euro had a mixed day against sterling, and struggled against the US dollar. The euro ended the day down by more than 1% on Wednesday after a senior European Central Bank policymaker warned that the risks of their short-term high inflation target has made it more likely that more quantitative easing may be actioned. Earlier this week the single currency received an additional boost as fears over the global economic outlook scaled back expectations for a US rate hike – and this benefited the euro.

Early this morning French consumer confidence data was released, and this was forecast to weaken from 102 to 101. Other than this, the focus will remain on the Chinese economy struggles.