The euro finished off 2014 in largely disappointing fashion, seeing losses against a number of its major partners. The multi-nation currency dropped to the worst level in three months against sterling, nearing the two and a half year lows seen at the start of October.
The euro also continued its fall against the US dollar, extended to a further low, the lowest since July 2012. These movements continued to centre around political and economic uncertainty in Greece, with their snap elections due on 25th January causing the euro to weaken.
After yesterday’s New Year close, markets will reopen today with data releases from both Spain and Italy. This morning we have the unemployment figures change from Spain, and the Manufacturing Purchasing Manager Indices from both countries. While these figures remain important, the wider political and economic situation across Europe is most likely to govern markets as we enter 2015.
As this currency is experiencing continued volatility as a result of geo-political issues, it is wise to contact your trader for the latest rates.