This week has been a real surprise in term of movement for the euro, struggling to keep its recent hot run of form going. Most investors expected the run up to the festive season to be a quieter time for the euro, but it has turned out to be a busier week than normal. Earlier in the week we saw the euro reach its highest point against sterling since October 2015, while the single currency lost quite a lot of ground yesterday after what had been a positive week. There was no data released to fight back against the positivity from the US dollar, causing the euro to decline gradually. It also struggled against sterling, down to low liquidity in the market and the US dollar being in higher demand than the euro, the euro.
If you are looking to buy or sell euros, now is a good time to review your currency strategy and get in touch with your trader for the latest rates, particularly considering the currency’s recent surprise movement.