020 7898 0500It was a very good day for the euro yesterday, as it hit its highest level against the US dollar in almost 14 months. Following ECB President Mario Draghi’s comments on Tuesday, where he suggested they might look to unwind their quantitative easing programme, and current inflation figures are likely only temporary and banks should look past this.
In addition, German consumer inflation rose unexpectedly in June, to 1.6% against a forecast 1.4%. Looking to the day ahead, the two main releases from the Eurozone are German employment figures and consumer price index.
