020 7898 0500Yesterday proved to be another mixed day for the euro in the absence of any data with enough weight to have an impact on performance. The single currency lost some ground against a strong sterling, but did appreciate against the US dollar making gains in the afternoon. Increased volatility is expected today as ECB president Mario Draghi speaks and monthly Eurozone industrial production data comes through. Draghi expressed extreme caution last time he spoke and even mentioned possible further interest rate reductions in the future. The seventeen-nation currency is likely to continue to perform poorly if Draghi maintains his pessimistic stance, but should he start to express more positivity about Eurozone recovery then we are likely to see the euro bounce back. Call your trader now to see how investors react.
