Currency Note Euro

Positive spike for the euro

By Ricky Bean October 13th, 2015

The euro had a positive spike on Monday morning against the US dollar, trading close to three-week highs, which was largely down to US weakness as expectations that the Federal Reserve will delay hiking interest rates until early next year continued to work in the single currency’s favour. The single currency was fairly unchanged against sterling, and still flirting around its strongest point since May, as the UK interest rate hike is also looking likely to be pushed back until the back end of 2016.

There is likely to be some movement today, with inflation data in the form of a Consumer Price Index (CPI) from Germany being released, this was forecast to fall into a negative figure at -0.2%, down from 0% – a worrying figure for the Eurozone.