Private DCN Private DCN - Euro

EUR: Euro benefits from Brexit uncertainty

By Michael Cooper March 15th, 2017

The euro gained against the pound on Tuesday morning after the uncertainty surrounding the outcome of Brexit negotiations has kept investors jittery, as has talk of a second Scottish independence referendum. The euro particularly benefitted from downward pressure on sterling after Prime Minister Theresa May was granted authority to trigger Article 50 on Monday, commencing the formal process for Brexit.

Eurozone industrial production grew less than expected in January, according to the latest figures from Eurostat. Industrial production was up 0.9% from December, versus expectations of a 2% growth. Today sees the release of consumer price index data from France, with the month-on-month figure expected to rise from -0.3% to 0.1%.