Currency Note Euro

Sentiment the main euro driver

By Ricky Bean April 7th, 2016

The euro had yet another positive day yesterday against its major peers as it strengthened across the board. It pushed to fresh 21 month highs against sterling, with the uncertainty surrounding the EU Referendum having another damaging effect on the UK currency. Better-than-expected industrial production data was released from Germany. This was expected at -1.8% but came reported at -0.5%. US dollar weakness also meant that the euro benefitted after the US Federal Reserve meeting minutes on Wednesday.

Today should be a quieter day for the single currency as there is no expected news or data out, but with sentiment being the major driver in the past few weeks, we can expect to see movement across today.

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